The oscillation continues around 40K axis
"The rise and fall" this is the current situation, 40 thousand dollars was the pivot around which the swing revolves, but every time we have hope that this will be the last time that the price drops to less than 40 thousand dollars, but this fluctuation is still continuing until now without knowing The clear reasons for each decline or rise in them.
The price of Bitcoin currently reached 41,400 dollars, an increase of about 5%, and a rise this week about 2%, which gives a positive indication in the medium term that we are not in the Bear Market. Looking at the rest of the cryptocurrencies, we also find that Ethereum also rose to reach the price of 3100 dollars, an increase of about 6% today, as for the weekly rise, it reached 2%.
The rest of the cryptocurrencies rose by approximately the same rate, between 5% to 7%, and also achieved a good weekly rise, except for some cryptocurrencies that launched today in a large way, such as Terra, which rose this day by about 11%, which makes its weekly rise almost the same percentage and also we have NEAR which increased by 12%.
The fluctuation in the price for Bitcoin and the rest of ALtcoins is a good opportunity for Scalping lovers, as exploiting the last period by buying from below and selling above 40 thousand dollars could have given a profit ranging from 20 to 30%, but the risk and fear of a bigger rise or a bigger fall is what makes it not easy.
In the current period, with the fluctuations on the political and economic levels, the rise needs several strong news supported by large institutions or other countries. I think we will continue with that wave of fluctuations in this quarter of the year.
The Hive currency is also suffering from this fluctuation in the price of Bitcoin and also swings around the price of $ 0.9, where the price of the currency has reached 91 cents now, an increase of about 7% after its price yesterday was about 86 cents, but I am very confident that we have a currency with a strong project, but the dependency on Bitcoin It applies to all cryptocurrencies. We hope that after the spread of cryptocurrencies and after they become a global means of payment, currencies will get rid of dependence on Bitcoin and that each currency will have its own independent performance.
And you, what do you think ?