Bitcoin hit 44 thousand, will it continue to increase?
Hello friends, bitcoin is currently at $43,800 when it had already broken the $44,000 barrier, so it had a significant correction of almost a thousand dollars.
I am sure that the next levels to break could be $45,000 or $46,000. If all this is overcome without a correction of at least 30 to 40%, it could be said that bitcoin is on track to touch or approach the all-time high before the end of the year. , although it is quite early for that to happen, but for those who do not trust that there could be a strong correction and who think that it will only rise indefinitely, it is necessary to keep in mind that as long as the purchase volume is high, there is the possibility that the big whales sell to obtain great profits.
We have to keep in mind that this rise is due to the fear of the possible approval of the cash bitcoin etfs in the United States, which if they are rejected, they know where we are going to have to go look for bitcoin in the third underground or more or less but calm because the news seems more encouraging according to last-minute information. Black Rock presented an updated version of its presentation, which means that all companies are currently in intense negotiations with the securities and exchange commission.
For Bloomberg analysts, there is a 90% probability that spot ETFs will be approved before January 10, what interpretation can we give to this news that the negotiations between BlackRock and the SEC are on the right track and are approaching positions to reach to a good agreement.
Going off topic, one of the news that caught my attention is the company that issues USDT, Tether Limited, which is currently earning more than $1.1 billion thanks to its investment in bitcoin, boosting its holdings with strategic purchases and benefiting from the clear increase. recent bitcoin prices the issuer of usdt has 57,570 bitcoins, all of them purchased at an average value of $22,400, the majority purchased before March of this year starting in May of this year as well.
Tether began investing 15% of its net profits in bitcoin, increasing its portfolio considerably, having a very good long-term holding strategy. This type of news makes novice investors think that long-term holding is a good idea, in fact. It is since those who bought bitcoin when it was at $22,000 dollars today would be earning a 100% profit by multiplying their investment by two.
Something to keep in mind is to be aware of the movements of the whales, what are they doing at the moment if they are buying they will soon sell since they usually obtain their profits by raising the price of the currency so that novice investors or retail investors buy in the rise so that later the whale sells all the bitcoin purchased and obtains a good profit, this is usually done by the whales constantly, which is why it is not advisable to buy on the rises.
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