All those who were expecting about the price of bitcoin, gonna fall big or will go in the range of $40000 - $43000 and most of us expected to lose our bitcoin value have reasons to smile.
All the Crypto Gurus were predicting a massive fall on YouTube channels in the price of bitcoin price could go down up to $40000 must be biting the dust by now. To prove their point, everyone had been showing charts of the last several years and the fluctuation graph and whatnot.
Some were even reflecting the moving average of Bitcoin, showing us that bitcoin will come up to $43000 or even below in few hours. I think all these Youtubers get paid by spreading panic or distress sales.
They were confidentially claiming that the price will touch $40K before recovering a little from there. However, Bitcoin price has been doing okay in the range of $50000 give or take a $1000. But then this is a cryptocurrency that has no major triggers to move up or down.
The Coin is doing slightly below for the last several days, but when did it have a set pattern of going up or down? We have seen the price dropped to around $2500, and the price reached $66,000+.
That was fun watching this particular Crypto YouTuber started making videos on Bitcoin starting his campaign. He was so sure that Bitcoin will go down further and will touch $40000. Bitcoin went down alright but the price suddenly changed its movement northbound as the price started going up.
The $51000 bitcoin was believed to be a major hurdle that was achieved comfortably, and at the time of writing this article, the price of Bitcoin has already touched $52645.
Contrary to everyone’s expectations, how much money will change in this bitcoin correction or profit booking what you call it but this is part of the game and you have to live with it. The liquidity amount will come in light in some time, but that’s how it works.
Maybe Bitcoin is looking somewhat weak in the one-day chart and is expected to fall further. Coming hours are crucial and the price is bound to go down, but Bitcoin has proved time and again that no fall is permanent. The coin comes stronger after every fall or that no one can give an accurate prediction about its movement.
I can see a new beginning in the Bitcoin market from this point in time. I can only say that long-term investors stand to gain in Bitcoin.
The Bitcoin price is already $12000 below its all-time high and still in correction mode, but one thing is for sure, it will bounce breaking its previous high. We still have 4 days left in the current month, so let’s see the month’s closing. I am not an expert, but I am not selling my coins.
Be careful, I am not an expert on Crypto and even if I am there is no guarantee what I say is the final word.