Seven Weekly Candles: Bitcoin

in LeoFinance16 days ago (edited)

image.png

For seven weeks Bitcoin has been trading mostly between $30,000 and $40,000 USD. While that is a fairly large range it has stayed int that range through good news and bad, FUD, Optimism and lot's a discussion.

image.png
BTC/USD Bittrex Weekly Candles

Those who hold BTC like any other investment all have different goals they are attempting to achieve. From day traders to short term speculators to long term investors and those who view BTC as a tool to a financial revolution.

Strong Bitcoin accumulation spotted as BTC price refuses to fall below $30K

https://cointelegraph.com/news/strong-bitcoin-accumulation-spotted-as-btc-price-refuses-to-fall-below-30k
image.png

A market analysis published by Cointelegraph points out that those who saw the value of Bitcoin early are accumulating while those who may have FOMO'd in during the early part of the year are exiting the markets. Of course the long term holders expect the break out to go up, they just don't attach a timeline to the increases in value.

image.png

Meanwhile day traders and speculators are predicting a break down possibly to the $20,000 USD level.

I am mostly a holder, with light trading geared towards which projects in the space are building and getting attention, so I'm still in BTC heavily and waiting, fortunately at this time I can "Let it Ride".

I actually think BTC has survived the massive flood of FUD and bad PR very well and in any case I can't imagine selling my crypto for USD while we are watching the biggest Inflation event in my life time.

@whatsup

Posted Using LeoFinance Beta

Sort:  

The question is how long these banks can suppress the price? They've now done it for years with gold and silver. Can they do it for that long with bitcoin? At these price levels, I think they still have a chance. But if the world starts a buying frenzy again and the price goes over $100k, the dollars start to really add up and then it becomes a serious guessing game as to whether the governments can keep printing enough money to enable the banks to keep it from running or whether they just have to let it go and then come in later and hammer it back down. We'll see....

Posted Using LeoFinance Beta

I'm Hodling.

Posted Using LeoFinance Beta

Me too!

Posted Using LeoFinance Beta

Having already sold, if it goes up I'll move some stable coin funds into alt coins which all just follow btc anyway but go up and down faster.

Yep, I think that is a fair strategy.

Posted Using LeoFinance Beta

We agree with this point of view as well. Stacking sats and chilling as Lark Davis says. Reblogged to the https://coin-logic.com front page rotating feed!