Profit taking is the simple reason and other reasons also perhaps but mostly selling an asset speculatively is main motivation to cycle through selling an asset now and buying it later. The more people need to hold the BTC because its useful and widely distributed in its use the less we are bound by market and more by usage.
Price recovering only a small bit as we rise enough to meet the 2 day average at 22.4k
There's always a target price and we do know that not all traders or investors would really be planning or tending to hold for long term on which means that there are ones who would really be deciding Price recovering only a small bit as we rise enough to meet the 2 day average at 22.4k
on when they would really be taking up profits on a certain price or level which means if ever the price do tend to go up then there's always that selling point which means those resistances above.
Price cant really just shoot up on what those newbies do really mind or thinking off with. Dumping and Pumping, these things are always the most common scenario that
someone could face on.This is why its better that you should really get used to it.
the volatility factor is the major reason why this market is very attractive to traders. the roller coaster ride is where they are getting their profits. however, it is not for all as you should also know when to sell off your satoshis. though it is when it is above your buying price but there are some unavoidable reasons such as selling because you have urgent financial needs or owed to your own panic.
