The price of Bitcoin has been rising for almost a month without stopping, all those who have BTC for more than a month are at the party that will allow you to make the right decisions in the coming days.
First of all, here are some graphs to help you remember what is going on right now. First, here is the evolution of the BTC price in dollars and its total capitalization in dollars.
As you can see, whether in terms of price or market capitalization, bitcoin is on its way to the top. The $20,000 cap will be very important because it has never been crossed. It is a cap that is mainly psychological but it will be very important. If the BTC passes this course easily, a spectacular climb is to be expected. Many institutional and private players are entering the race and taking a position on the BTC.
Some elements may give us information on the psychology of those who hold BTC. Indeed, the number of BTc portfolios increased significantly during the month of October 2020. The year 2020 had already been very successful in this regard. This means that new people have come to position themselves on the BTC.
In the same logic, the number of transactions should have increased in a similar way, which was not the case. Why? Simply because most people buy BTC and wait. They put their BTC in secure portfolios and don’t buy regularly. They’re long-term investors. That is a significant difference because in January 2018, that was not the case at all. Everyone was speculating enormously. This is the number of transactions per day.
How do you behave?
Beware of the media hype. It could create a sharp upward price increase followed by a big correction. Always keep in mind that after a strong increase, prices always correct a little. However the septic on a strong increase over the long term of the BTC are becoming less and less numerous. This strong increase wakes us all. Staying informed and attentive will be the best thing you can do to avoid the pitfalls in the market.
Good luck!
https://www.blockchain.com/?utm_campaign=expnav_logo
