Although bitcoin ETFs have been one of the sure sole causes of this recent price the reason being that, Bitcoin started increasing in price suddenly after the news of the ETF announcement even though it was later discovered to be false news but Bitcoin has refused to drop from that price behaviour since then and up until this very moment
Probably and from the look so far it seem the 40k price is looking as reality as bitcoin is jumping around 37k/38k. I think the next level is going to be looking up to 40k. I don't expect drop to happen anytime soon or before that range where we are just starting the month and there have been spikes taking price up in the longer hours which is possible that it could be sustained for the month to run out.
Yeah we are already closing in on the 40k benchmark and with the current Bitcoin market trends, it seems that we will arrive at that reality even before the week runs out, and at some point, we may even exceed that said Bitcoin price at the end of the days if all things being equal and it goes well, but my fear is what will happen to the Bitcoin networks congestion, is it going to sum up all the gains through fees, because in the last few days, we have experienced a lot of high fees for even a fraction of Bitcoin transactions and the meme pol has been highly congested at some point.
So the increase in the price of Bitcoin, still trigger up a lot of negative feeling when it is done in direct proportion to the transaction network hype and fees increases, this is why we all have not really been able to make long-term speculations on the Bitcoin price.
Because no one knows what the cause of the sudden price increase that is accompanied by network connections at some point.
If we would really be having this small increments then touching $40k wont really be that a problem. Will it hold? This is something a question that cant really be answered knowing that this market is always been that unpredictable on which there's no way that we could really be able to tell on where it would be heading. Somewhat making use of these indicators on which it do really shows on where potentially it would be going,
it might not be precise but it is really that lot better compared on taking up some decisions or positioning without any basis on which we know that it is really that so hard to have that kind of
consideration when speaking about positioning, there's no such thing about easy speculative approach yet it is always been hard.
To those who had risks out on buying on 35k are already making profits considering that price had risen up.We are still on bullish sentiment or trend for this month but expect that there would
really be some corrections that might happen later on, not on end of this month.Well, its just guess considering that in every pump, there would really be always a correction.
Holding or not, then it would really be entirely be depending on the market sentiment.
