If there is one important thing I have learned it should be about price of bitcoin what I understand very clear about bitcoin price is that it doesn't go the accurate direction according to how we wanted, I don't argue that we won't see or we'll see but what matters is that "bitcoin price is highly speculative" and for that we do not know whether the price will touched $48k or not..
..Let say today is 14 December 2023 counting down to January we have less than 16 to 17 days before witness new year, So technically we could see the price there if bitcoin could used just less than 20 days to move from 30k to $44k plus then there is every tendency we will touched $50k before 31 December or possibly by first week January.
Anything could happen, we are not certain what's going to happen and we are just riding the day out. Every single morning, I wake up and let the day tell me what kind of day it will be, and usually it is a good one these days and the price goes up, that's a good thing and it should be something that would benefit us all.
I understand that we are going to end up with a good profit, and should not be something we could profit from very late, it is going to be sometime soon that we are going to end up with some good profit making. I understand that we are not going to end up with some x100 in bitcoin, that is of course not possible but I do believe that 48k+ is quite easy to achieve, that would not be all that much of a trouble for us.
Sooner or later, I know that Bitcoin will hit $48,000+ but not this year again and I suspect that this will be in January next year. The market is still very bullish in the long-term disposition and will continue in that regard as long as FOMO continues to play its course and if there's no bad news strong enough to cause otherwise. Many people have earned their fortunes in the recent bullish trend as the coin moved so strongly upwards with about $20,000 in just 4 months. This is responsible for the recent stoppage to the bullish trend, there must be a correction for the market to take an adequate breath for it to have a stronger tempo to rise higher.
Still, the bearish movement was underpinned and Bitcoin has been struggling because of that to ascertain a trend. I'm afraid that this will continue till next year as the market already slipped into a short-term range that might last for at least a week. I will continue to make my money in this regard and stop the believe that it can move significantly higher this year again. It can't even launch higher than $45,000 this year again. Also, I don't think it can slip below $40,000 till January either.
We have the crescendo effect in play at present possibly ? Seems like there's a rising trend but also resistance in this area and so range is becoming constricted as we continue. Perhaps resolution in the new year.
imgsnipped
Its wavering back and forth across the weekly average, essentially its in a flat spin though some might say we are positive Iam a bit cautious. Add in the transition from holidays back to full working weeks not long now, just that can be enough to throw off the balance between bids and offers. BTC is already a volatile price movement often, we can easily move down in my conclusion and of course we can still go up further I just side with profit taking being quite possible short term.
why not wait for the price above 50k dollars. the price touched above 50k dollars is very easy. anyways next year there is a halving demand purchases will definitely go up high so the price of BTC will also be lifted very high.
halving or post halving bitcoin price is almost 100% sure to rise above 50K dollars
You can take advantage of price increases and go against the mainstream market moves, find good points of re-accumulation...or you can wait. There are a few things clear at the moment:
- Retail investors will have gotten caught in the excitement and have bought in the 35-45k range
- Retail investors are probably seeing a lot of altcoins going up, and thus, want to jump into some of these
- There will be a Bitcoin correction, and when there is, these altcoins/tokens will fall harder, people will be devastated and their faith will be crushed. Crushed so much, that they probably will not buy the dip.
We have to all remember that the retail market and those who are new to Bitcoin from the ETF news and all of the MSM news,
have to have their faith tested. That is not just the crypto market, it's every market.
We'll see it soon, I think the Jan 1. ETF decision then fly to 48k, wave of excitement, hype, etc. from retail, more buying into smart money orders, will be followed by a nice correction and another buying opportunity.
We have to also remember that historically, price movement has not taken significant effect until 3-6 months post-halving. We also have to keep in mind that Mt Gox repayments
have actually started and we need to keep in mind the effect of that on the order books.
So do we resolve to find this pricing as a ceiling and then down to 37k. 37k fits as bottom of a channel and a fib level.
