The trend that has happened in recent years is that prices continue to rise as summer, as we know that it is now summer and prices are seen steady above $ 9000, this proves that prices are soaring up to the end of the year.
It proves nothing. It's even too early to consider the market to be in consolidation mode.
The problem with a market that's lacking incentive to move up, is that we may slowly adjust to lower ranges, and that process could drag on for months straight. It wouldn't be all that much of a problem if we were hovering around $7000-$8000 levels, but with how we have been so close to breaking the $10,000 level, people's expectations are high and they won't settle for anything less than that.
At this stage the somewhat positive sentiment is just one dump away from doing a 360 shift, and that's when we for sure will adjust to a lower range. That's why I have been telling people to keep their expectations of the short term market as low as possible to prevent disappointment. What do you think people waiting for $10,000 will do when we tank back to lower $8000's? They'll dump. What do you think people not being bothered by whatever the market is doing right now will be doing? They'll hold and wait for the market to show actual signs of improvements.
Bitcoin is going up and now a little bit stable at the price equivalent to 9k dollar. Sometimes the price reaches at 9.2k dollar and sometimes at 9.9k dollar but the trend is between 9k dollar. However we should invest now to take the benefit of such a golden opportunity. The price will surely increase and we will have seen the high jumps in the upcoming days.
