A few days back, BITCOIN reached 8,000 after a long time. and today, bitcoin price falls down to $6200 back. many people told that bitcoin will hit $10K , actually what's happening with Bitcoin? I can't understand the market anymore. I would like to know you guys' ideas.
Whoever told you that bitcoin will reach 10k, they were actually speculating the price and no one on the earth knows for sure. We all are speculators here and we can only speculate the price but can't tell anything for sure. Also cryptos are the only market that reflects the free market dynamics so it is almost impossible to capture the Future trend correctly.
Yes, it's true that people just speculate about prices, maybe you also know that the crypto market is very difficult to predict in a very short time, it needs research so you don't enter the same wave, I like to think that both profits hold long term because every year is always have good achievements and might be brilliant for the next year that I predict.
The current bearish trend is the result of the bitcoin ETF delay by SEC. It looks apparently correct because there is no other bad news trending in the market (I am guessing). So take this as an opportunity and buy more if you believe in bitcoin. I am sure a lot of people have started doing that already. Once the market moves free from the hype of the ETF, it may start go up again distributing the profits to the believers!
In the past, there have been people who say that ETFs do not affect the market at the moment but they are wrong, this is very dangerous for most, especially in their mindset or ambitious ambition to benefit if the ETF is approved and in fact not, all think they will lose all their money if it is not approved, this is only an trust and an ambitious person to get rich suddenly but fear of losing money does not have to lose 100% but the market will increase again if it's time, long term is a solution for me.
This is not a deadlock about the SEC's decision on ETFs, there is still one more chance in September.
No doubt. All we need is ETF approval at this moment. then surely bitcon will ben in the moon. Trillion dollars will come to crypto market. Do you think that we can get the ETF approval this time?
