Will Bitcoin go down again? How much can come up?
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Assalamu Alaikum
How are you all? Hope you are all well.
So today I will talk about Bitcoin,
Could Bitcoin Give Down More? That is the question in many minds,
Bitcoin Down and Pump Depends on Good News/Bad News,
January 23 Bitcoin Gives Hard Down,
Bitcoin hits a low of $38,555,
Many people are mentally broken by this.
I myself broke down mentally because I am a small investor with a loss of about $100+.
But I invested in such coins and it did not cost me much, I invested in Solana, Matic coins,
The market started to recover all losses yesterday, going around $40,200, but slowly coming back down again.
[Screenshot From Binance]
Why did the market suddenly pump light?
The main reason was that Grayscale suddenly stopped selling its Bitcoins, but the bad news started coming again, according to Arkham, Grayscale again deposited 19,200 Bitcoin Coinbase, which is worth about $769Million.
Sell pressure will come again in the market, but Bitcoin may crash again very soon.
Bitcoin has important support at $35K, if this support is broken then $32K may come, but hopefully Bitcoin will start to recover very soon,
Grayscale has already sold around 65,000+ Bitcoins,
Grayscale ranks No. 3 on Bitcoin Hold,
Holds about 627,779 BTC,
Because of this, there is a lot of sell pressure market down, those who got Bitcoin ETF Approved are also buying Bitcoin, blackRock has already bought 39,925 $BTC($1.59B),
If they did not buy, the market would have crashed hugely.
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But it may take some time to overcome the bad time of Bitcoin, if someone wants to invest again, then wait, ALT Coins are getting -40% down in this down market, if you want, you can invest, when Bitcoin recovery starts, ALT Coin will recover.
I'm finishing here today, everyone be well, Allah-Hafez!
After etf approval bitcoin will not down more.
Right
I think bitcoin will pump now.
Currently market is not in a good state and it is highly possible that it might drop further because looks like people are doing it intentionally so that they can buy more. Usually it has been seen that around hauling event prices for the Bitcoin are low but after a couple of months things improve.
Right
I am totally agree with you brother for analysis of btc price. There is a huge chance to falling down btc price. But it is also true that the faster the Bitcoin price goes down, the less time it will take to recover.
Yes
Hopefully the price of Bitcoin will remain stable. If it goes down again, it will be very sad for us.
Great article friend, well structured and well written, love what you have composed here on the possible trajectory of bitcoin.
Thanks bro