Yesterday was my 3 birthday on Hive and as a memorable event, another interesting thing also happened. Bitcoin broke the 20k mark and set a new all-time high. I was expecting it to go down after hitting 20k because there would be lots of sellers trying to sell their BTC for a better price. But, the price was very stable and it even crossed 22k today which is even more interesting. I still think that it cannot keep going like this forever. There will be some kind of bubble break moment for BTC to get back to a low value providing another investment opportunity for everyone.
Recently BTC gave several trading opportunities in the form of corrections. Even though the price was very strong in 19k trying to reach 20k there were corrections where the price again went back to 16k and 17k mark. When such a correction happens, it not only affects BTC market cap but also the price of other tokens as well as most of the cryptocurrencies are dependent on BTC.
This would have been the hottest topic from yesterday since the BTC price hit an all-time high. Many people have already started planning their strategy. Surprisingly there are so many people who are still purchasing BTC at the current price. I'm not talking about just traders but also people who are planning to have it as a long term investment. I also personally believe that if the intention is to have it for the long term, 20k is not a big deal. Some experts are predicting the price to hit at least a minimum of 50k in the next few years. But I think there will be another fall in the price before it reaches the next all-time high.
For people who have missed all the opportunities in the past, this is going to be the best opportunity if the price goes below 15k or 10k again. Even two years back the price was high but it did reach a low value again. Many bought it low and are reaping profit right now.
This is just my speculation that BTC cannot stay strong beyond 20k for a long time as it is already too much this year. There is a high possibility that people might sell their BTC holdings and invest in other emerging projects. There is a great possibility for the altcoins to bloom. People who have altcoins can then have a good time.
Though one side we can think like that, on the other side the possibility for it to go below 15k is very minimal and people even say that the price might keep going on and on, and surprisingly it can even hit 50k next year itself. This is also another theory that is commonly prevailing.
So, what is your strategy? Do you have BTC and are you going to hold it further or sell it partially and reap some profit?
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