The real hype should be for the lowest prices that arent in the spotlight. The highest prices like are posted are reliable and frothy, they dont have half as much substance to rely on for actual genuine change to sentiment. BTC can shoot up and lose it again in a day, no point getting worked up over that or you will get tired out and lose patience.
There is a good reason to be positive now and its action thats been built over the last few months despite apparent negatives in that time its been built enough to challenge these highs and not fall like a rocket out of fuel afterwards. The price is beating 2 day and 12hr averages but current highs are below the weekly average so we have to consider present action as challenged while thats true.
Topic: Why do speculators became so bullish with just a short time high price (Read 23 times)
Yes there is no taking away the hype around bitcoin price during this election and I won’t just say it won’t affect it a little bit but it’s somewhat overhype to me as I don’t see it having any significant impact at least not right now, market is experiencing a swing between resistance and supports levels simply because the price is trying to break a resistance which in this situation is the all time high and as such all long positions will have their target Almost hit and short positions getting trigger at this point too. Also there is those who are FoMoing to buy because they expect a bull run soon and their are those selling off maybe their target has been reached too which is not bad either.
BTC price:
Today bitcoin touched $70,500+ before correcting back to the current prices, and within this short period that lasted less than 3 hour's, so many bitcoin market speculators became so bullish with they specualtive analysis but their joy was short leaved when bitcoin suddenly slided below 69k and struggled to reclaim that 70k benchmark without any result as at now.
Alot of bitcoin market speculators pointed to political atmosphere to be responsible for the current market reaction.
But for us here we are at a level where our knowledge about bitcoin make us to reason differently that is why I brought this here to know what the opinion of forum members is on this market behaviours.
Today bitcoin touched $70,500+ before correcting back to the current prices, and within this short period that lasted less than 3 hour's, so many bitcoin market speculators became so bullish with they specualtive analysis but their joy was short leaved when bitcoin suddenly slided below 69k and struggled to reclaim that 70k benchmark without any result as at now.
Alot of bitcoin market speculators pointed to political atmosphere to be responsible for the current market reaction.
But for us here we are at a level where our knowledge about bitcoin make us to reason differently that is why I brought this here to know what the opinion of forum members is on this market behaviours.
Jump to: