I am in immense pain to say that i foresee the fall. I would not be surprised if we lose from this point to 50-60 percent.
Accirding to my knowledge institutional investors are bidding out from crypto and stocks.
Stocks has already dwindling now and same will comeback to crypto.
I know some will say it is a fud but friends i am not joking. You are free to not to buy my thoughts.
Hope i will save someone.
Thank you.
Price today: 7930 usd per bitcoin.
A good thousand dollar below the price you've mentioned and yet the market is looking green over the last few days even for the past week. Might be demoralising with respect to current prices but the crypto market looks to be on the verge of making a comeback very soon. A bullish run is always on the cards after almost three odd months of complete draught.
Yeah this is how Bitcoin has always evolved: big spike up, then stall and linger down 50% for months, sometimes years.
Just compare today's "disappointing" price to last year's price, and you will see.
In the meantime, people are buying Bitcoin everyday, at current price. That's more and more people everyday who will not sell below today's price (if they are smart). Keep doing that for a few months, then at some point all circulating Bitcoin will have been bought at new high price and then
BTC market will run out of sellers, as people will refuse to sell at current price (since that's the price they paid). That's when price can go back up again on another spike.