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Author Topic: Why Bitcoin price is falling?  (Read 1223 times)
zaki12
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August 30, 2022, 05:55:01 AM
 #141

Bitcoin prices are always fluctuating, the last 2 days the price continues to fall and now around $ 21K, for those who have money then this is a good opportunity to buy, I'm sure next week the price of Bitcoin can return to $ 24K or increase more than 13%.
This drop in the price of bitcoin is neither strange nor surprising. Because if we look at price patterns from the last 1 decade, the bitcoin adoption process has indeed experienced a bull & bear phase. Down 93%, then up 55K%, down 85%, up again 11K%, and so on.
I strongly believe Bitcoin reaches new ATH in the future, holding Bitcoin long term can yield huge profits.
EarnOnVictor
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August 30, 2022, 06:50:13 AM
 #142

the weekly candle close is still waiting for a few more hours,
if the bitcoin price can be above $22k again then it is the right time to buy Bitcoin under $30k,
because according to TA bitcoin can reach $30k.
You made me laugh pal, I think you are over-ambitious about Bitcoin by calling huge highs it will attain assuredly without looking at more obstacles to its rising. Inflation is still an issue for Bitcoin, not to mention global economic issues. Even if it breaks your $22,000 level, what about the high of August at $25,208.78? You totally ignore that, meaning you don't even analyse the market at all.

Bitcoin prices are always fluctuating, the last 2 days the price continues to fall and now around $ 21K, for those who have money then this is a good opportunity to buy, I'm sure next week the price of Bitcoin can return to $ 24K or increase more than 13%.
Can you see that this speculation of yours has failed? See, trading is not about just calling values, it is about good analyses that will help you determine what the market might really do. You should know that a lot of forces are calling for the selling of Bitcoin, how could a mere $21,000 resist that in August after a bullish correction?

Indeed the price of bitcoin has fallen deeply due to the war situation between Russia and Ukraine and the close correlation with technology stocks, soaring inflation, and interest rate hikes by the Fed. As a result it has reached extreme fear in the market and more and more negative sentiments have kept the crypto market in a bearish trend.
I am with you on this, and it shows that you know the economics around Bitcoin unlike many in the forum.

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