Hope Returns to The Market, But...
It seems that we have a new phase that may start now after more than a dry month that has passed for traders and holders of cryptocurrency after the sharp decline of Bitcoin, but...
During this period and while I was writing these words, the price of Bitcoin rose to reach 35 thousand dollars, with a daily increase of almost 4% and a weekly increase of 19%, as the market became green again after most traders had given up, but what makes me a little worried is only manipulation.
Where I am only afraid that this is the plan to strike the futures traders who, of course, bet in the period prior to the decline of Bitcoin significantly, especially after swinging around the 30,000 resistance.
So what do you think about this? Is it a whale's plan? But if you overlook that point and look from the positive side, I can tell you that some technical analyzes away from personal expectations may play a role.
30k Resistance
In technical analysis, the $30,000 resistance may have played a major role in the price’s rebound and reaching that current point of $35,000 and the continuous rise throughout this week, as the price tested this resistance a lot but failed to breach it, and even when it broke through the resistance and reached $28,000 it found resistance It is more difficult, so the rebound from these resistances is a positive thing, something that foretells good.
But as I told you at the beginning, I am afraid of the manipulation of whales, especially on futures contract traders, and that is why by spreading optimism in the market and then bringing it down again.
But we have another positive and somewhat strange point. While the bitcoin is gradually rising in this way, it has not yet stabilized even above 35 thousand, and I will not say 40 thousand, the Altcoins also rose significantly in conjunction with the bitcoin, i.e., by almost the same 20% during the week.
We have evidence in the Hive currency, which rose during this week by approximately 20% and reached 0.2887.
Also, Ethereum, BNB and Cardano, which rose by nearly 30%, and the Doge rose by about 57%.
So perhaps this is evidence that the rise of Bitcoin is not false and that we have a real euphoria in the market.
One last tip
In this volatile market, you cannot give the green light to 100%. I mean currencies or USDT. Your capital must be divided equally between currencies by 50% and USDT by 50%. If you do not make a profit, at least you preserve your capital.
We are here in front of a new technology and a market that works in the long term and not just win some dollars and get out.
Thank You
Nice update
Thanks
This is good to hear
Of Course
Thank you for this post.
I guess that the price will continue to be on the uprising just for sustainability and profitability. This update will definitely increase the morale of investors who has lost faith crypto currency.
I urge you to keep up the good work to update everyone of this great chance.
Thank you
Ya I guess that too
Do you though? Denominate the value in BTC and most of the time you're losing value unless you only hold BTC. This is in the case of holding 50%/50% BTC/Gold. I saw the amount of the value go up in terms of gold over time but the amount in terms of bitcoin go down and also the amount of value in dollars also go up.
I say that so you have liquid money to buy the dip