Did Bitcoin go into a strong correction, or the bursting of its financial bubble?

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Since November 2020, numerous experts in cryptoactives have been making declarations about the dizzying increase in Bitcoin (BTC) prices, among the most mentioned predictions or positions, it has been indicated that BTC had entered a financial bubble that would only last three months.

This prediction of the collapse of the Bitcoin bubble took force just yesterday, Sunday, when we all witnessed a sudden collapse of the BTC price by more than 30%.


Fig. 2 Bitcoin presented a sudden drop in price of more than 30% yesterday, Sunday. Author: @lupafilotaxia.

For those of us who believe in the enormous potential of Bitcoin, we intuit that it is only a strong correction, therefore, this price collapse is a movement to seek the support of 30 thousand dollars, to then enter a new range of accumulation, and then continue its upward growth in search of new highs.

A favorable element for those who carry out exchanges with HIVE, is that this movement of the BTC, helped us to consolidate the support around the 0,115 dollars, in addition we could see an increase of volume something that we were waiting for a couple of months.


Fig. 3 The sudden movement of the BTC, consolidated the support of HIVE around 0,1150 dollars. Author: @lupafilotaxia.

At this moment, Bitcoin is still moving in a somewhat unstable way, a response that gives it an uncertain action. In this situation, what do you think, did Bitcoin enter a strong correction, or the bursting of its financial bubble?.


OBSERVATION


The cover image was designed by the author: @lupafilotaxia, incorporating the public domain image background: Mohamed H, 2018


Original manuscript, uploaded from the LeoFinance community website




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