Another new all time high for Bitcoin soon

By Bala | Bala | 29 Feb 2024

I like the way Bitcoin is moving. Unlike the old days, it is not doing a drastic pump which is very good because if correction happens, I don't think the price would drop with a huge impact. That's one good thing. Every week there is a slow sign of improvement in the price of BTC. This makes me feel that only solid investors are entering and it is not a pump-and-dump game. People are also very careful in making their investments I guess. Only new investors who are ready to wait for the next bull run would be bullish right now on Bitcoin. Otherwise, it would only be traders who would be interested to purchase Bitcoin at this price. Otherwise, I think we have to be very careful to purchase BTC at this price because it is very close to its previous ATH.

One good thing is that if it crosses the previous ATH, I'm sure BTC will set a new ATH but it is dangerous to predict the price it would touch because nobody knows what will happen as there is no target to touch after that. We all can only hope and pray that the new ATH should be a good one.

What can we expect

I'm very bullish that people who had bought BTC to exit on previous ATH value would be waiting to see that value again and start selling their holdings. By looking at the market we can see that it is what can happen. There is a high possibility that when investors who bought BTC very low and booked their profits, they might be interested in investing in some solid alt coins or solid projects. That's when the alt season can probably happen. Until then, it is hard to predict what can happen to the altcoins and when the alt season will start.

When the altcoin season starts, not just BTC but some of the altcoins will also see a all-time high value. Only then we can believe that we are in the middle of a bull run. Right now it doesn't give a feeling that we are already in a bull run or bull market because the altcoins are still at the same price.

Hive has a small impact

Usually, whenever the price of BTC increases, the market might see a small increase but when the price of BTC falls, the reaction would be immediate and we can see that most of the coins will have an impact. This has been the case with the price of Hive as well. When BTC pumps, the price of Hive also increases a little bit.

I'm someone who wants Hive to pump because BTC pump will not give me any happiness as most of my holdings are in the form of Hive and not in the form of BTC. I should even admit directly that I don't hold any BTC and even if the price hits another ATH, I would like to wait and see when Hive reaches its previous ATH and creates a new record.

I'm glad that Hive is also moving a little bit. I bought some Hive at the price of 32 cents and today at 35 cents I sold the Hive. This is a short-term swing trade that I would like to do. Now that BTC is doing very well, it is very unlikely that Hive will go below 29 once again. If I'm able to purchase Hive very low once again, the swing trade cycle will be complete.

PS: This article is just my personal opinion. The reality and facts can be different. Please do your own research before investing.

If you like what I'm doing on Hive, you can vote me as a witness with the links below.

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