BTC IN RUNS NOT FOR THE FAINT-HEARTED

in LeoFinancelast month

Author: @madridbg, through Power Point 2010, using public domain images.

Greetings dear #hive platform members, the world of cryptocurrencies has become somewhat fascinating from my perspective and even more so the behavior bitcoin is assuming. The day prior to this post I observed the desperation of some users who bought BTC above 50K and were assuming that the 10k drop was the start of the bubble bursting as many assume BTC to be and ended up selling below 45k so as not to continue losing.

To the surprise of the doubters the market surprised them again and today the bubble that never burst manifested a sustained growth of 12.15% taking positions above 49k.

Fig. 2. Screenshot of coin360 application and percentage changes in cryptocurrencies. Author: coin360

Based on this rise, the following question arises:

What will BTC's next move be?

From my analysis, the price of BTC will rise to the average to continue falling, we must also take into account that this is not financial advice and therefore I make the disclaimer about it, what we must be clear is that the trend of BTC for more fall that has, remains bullish and that we can see in the weekly chart. The difficult part of this situation is for those users who bought above 50k and were not psychologically prepared for the scenario that is being presented today. In this sense, if you have found my contributions in this regard, I invite you to leave your perspective in the comment section.

Fig. 3. Screenshot of BTC behavior on 4-hour chart. Author: tradingview


BIBLIOGRAPHY CONSULTED


[1] Gracia et al. Factors influencing Bitcoin behavior and volatility. Article: Online Access

[2] Michael McLeay, Amar Radia y Ryland Thomas. Money in the modern economy: an introduction. Journal of Institutional Economics, vol. 17. Number 33. Article: Online Access


OF INTEREST


The design of the portal was made by @madridbg, using public domain images

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