Bitcoin Is Back - A False Bull Wave or What?

The current price of Bitcoin at the time of writing this post reached about $64,500, with a daily decrease of -3%, which is almost the same as the value of the weekly rise of Bitcoin, meaning that this week, the price of Bitcoin is still stable at the number I mentioned above.

Looking at the numbers, we find that BTC Dominance has fallen a little while ETH Dominance is still at 19.5%. This is due to the decline of Ethereum by 1%, while most of the other Altcoins have increased slightly, which affected the BTC Dominance.

In the few days, bitcoin gave great hope to investors, while the ATH rose and reached $ 68 thousand and was a few steps away from reaching the 70k, but this rise did not last long as we faced a little decrease in bitcoin yesterday.

The decline of bitcoin yesterday did not cause much concern for traders, as the price was above 65 thousand dollars, so many considered it just a simple correction, but today, with breaking the 65k barrier down, the anxiety began to increase in most and many rushed to be satisfied with the profits they harvested and the selling orders rose.

Correction or false bull wave - The Frequent Question?

No one can say whether this is a simple correction or a false bull wave, but what I say is that this possibility that we want to know is in the short term, but for the long term, reaching 100k will be a must, but the timing is what we do not know.

Perhaps the beginning of 2022 will witness the arrival of Bitcoin to this number, which was a trail of imagination in the past, but Bitcoin is still achieving the impossible.

But the current decline in the bitcoin comes because the basic rule of cryptocurrencies still exists, which is that cryptocurrencies are volatile fast, which is good for the trader who can get the opportunity. As for others, they also have a choice, which is Hodl.

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