Is the BTC fall in the market over?
Greetings to all readers of this great platform, especially to all readers who make life in the great community of #ProjectHOPE, in the present opportunity I want to talk once again about the BTC and its current behavior, this is because we are reaching a critical area of the market, where a false move and the market can go to 14k of its price, so we must be more careful than ever when making decisions that can affect our money.
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The BTC has been within a range that began in the month of June, in which it reached the area of 17k in the price of BTC, being a resounding drop which suffered at that time the BTC market, despite the behavior it had for a long time, which made us think that we could have left this risk zone and thus begin to weigh on a bull market, the market shows that it is not yet ready for its change of trend.
This is mainly because the risks continue and the possible paths exist, to go through the range again at the high end which is the 25k area, or to be flirting above 18k to 17k, with this second possibility being the worst we can face, because any instability in the market, we can face a market falling quickly in search of 14k or lower at the present opportunity, so it is a very risky area.
It is time to be attentive to the BTC zone, in case it gets to lose the 17k zone in the range where we are at the present time, it can be a great investment possibility when it goes down to 14k so it is prudent to have a small amount of money to invest later in the market, either when the market ends the fall or when it affirms a recovery, with greater possibility the first one to finish falling in search of a great investment.
In case of not losing that zone of 17k it can generate a zone of tranquility, and begin to generate again the accumulation zone where we have been for 2 months, which may be close to the market recovery, patience and make the right decisions in the market is the key to success, it is not time to enter to make bad decisions or we will be out of the game that holds the future of BTC and the market in general.
Nobody can tell for sure where the bottom is going to be, but if BTC really hits the 14K-17k level, I guess it would be an ideal point for those who still have money to buy up (unfortunately, I don't have much, lol)
Thanks for sharing. Have a good day :)
Hello.
Actually most already bought their resources in BTC before this last fall so most invested over 20k, now it's time to wait for the BTC cycle to continue.
hello @chucho27,
some time ago I mentioned that the BTC could reach 14k and many people said it was not possible but if we are sure of something is that investments in cryptocurrencies is unpredictable, personally I think that just as suddenly come the bullish runs also come the bearish runs, ie the cycles of rise and fall in cryptocurrencies without a constant
Hello friend @trabajosdesiglo.
I really remember that article where you mentioned it, I even read some comments you made regarding that situation, every day the possibility of that happening is more tangible, and with the constant attacks on the market it fails to consolidate an accumulation zone.
We've found Crypto in your hashtags, reshared to @crypto.defrag
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Dear @chucho27
Another solid piece of work. Upvoted already :)
Truth be told I would not expect that we've reached the bottom. If BIG news like the one about blackrock entering crypto space are hardly bringing any hype, but small press conference with FED chairman is bringing to much fear .... that doesn't sound like we're even close to the bottom.
I may be wrong, but it does seem to me that it's to easy to bring panic into the market. And there are still many large players who will use any opportunity to crash the market and accumulate more BTC whenever another panic-sell is happening.
Right now all eyes are on FED and inflation.
And according to Release Calendar next inflation reading in USA will take place on 13th september. So let's see what will be next inflation reading. If it will continue to go down, then perhaps markets will get some more hope. However, if inflation would get worse than month ago then I would expect that entire markets will go again into panic mode (in expectations of aggressive actions taken by FED at their next meeting, at the end of September).
Those are my 2 cents :)
Enjoy your day buddy,
Yours Piotr
Hello @crypto.Piotr.
Actually that Fed thing, the rising interest rate, the steady decline of the world economy, and how really easy it has been currently to panic the crypto market, are several of the factors that do not allow a recovery.
A few months ago there was talk of a possible correction of BTC reaching 10k in value or a little less, after 2 months in a stable zone, has left that possibility aside, now with the FED announcements and the 134k BTC to be released by the MT Gox project, the fear started again and the noise of 10k for BTC returns.
hi @chucho27
Any idea when could that happen?
I've been hearing about releasing funds from MT Gox project for such a long time. Almost as long as I've been hearing about Tether and it's upcoming collapse.
and it seem that I'm still waiting :P
Hi @crypto.piotr.
They announced that it would be in the month of August, but it is over and the release was not yet given, I imagine it may be given before closing this third quarter of the year, with the release of those BTC there may be an overselling of BTC at that time and bad news for the market.
I also wanted to add:
thanks for being so responsive and for replying to received comments @chucho27