STAGNATION OF BITCOIN PRICE FOR WEEKS

[EBMARYAM]

Bitcoin's price holds steady near $27,000 as investors consider debt ceiling developments. CoinDesk's former head of research writes that with much government efforts in such large, emerging countries as PAKISTAN and NIGERIA to curb crypto activity, citizens there seem to be turning to digital assets as a hedge.
The most valuable cryptocurrency in terms of market value (BTC) was currently trading at around $26,866, up 0.4%. According to CoinDesk data, BTC has been trading between $26,500 and $27,500 for nearly two weeks due to macroeconomic uncertainty. Crypto traders are uncertain as to how Bitcoin will behave over the next few days, weeks or even months.
The probability of default is quite low, but if it does, it might feel like a blow to risk appetite, sending cryptos sharply lower.
Bitcoin is content to trade towards the bottom of its previous trading range of $26,500 to $30,000.
Currently it's trading at $26,784.00.
Invest what you can afford to lose, it's good to hodl BTC if you can afford to lose what you intend to invest or what you invested 🌝

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[348Judah]

Bitcoin's price holds steady near $27,000 as investors consider debt ceiling developments. CoinDesk's former head of research writes that with much government efforts in such large, emerging countries as PAKISTAN and NIGERIA to curb crypto activity, citizens there seem to be turning to digital assets as a hedge.

How more important could this be if you had inserted the link to reference this news you're talking about, quite alright there are many countries in West Africa and other part of the world that their youth solely depends on bitcoin for sustainability where the government failed to realize that it's because of their incapacitation to deliver upto expectation on what the people really want from them, bitcoin as a digital currency is an opportunity that has come to cleans away every mess from the government inactions on the people's financial economy and that's why the more reasons you see more people going for bitcoin adoption and not CBDC or any other asset today.
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The most valuable cryptocurrency in terms of market value (BTC) was currently trading at around $26,866, up 0.4%. According to CoinDesk data, BTC has been trading between $26,500 and $27,500 for nearly two weeks due to macroeconomic uncertainty.

Dont let all these crypto actors and influencers discourage you about bitcoin or it current price, the value remain the same in as much that bitcoin can go as dip as $15k and still maintain close to $27k as at now, we are more expectant innthe coming days for better surge in it price.

Crypto traders are uncertain as to how Bitcoin will behave over the next few days, weeks or even months.

What are the use and functions of the market indicators when you can sit down to analyze everything and research about it, maybe you could also bring out something useful for other to have a look on as what the present or couple of days will look like, but we also needs to be reminded that bitcoin is a volatile currency, we often forget this, as a bitcoin trader, you can still make more money when bitcoin is dip, not only when it surges we realized income while trading.

[KiaKia]

Thanks for the writeup, the truth is many people don't care about the price action of Bitcoin right now, I don't care as well because I am not even close to the target I had in mind for Bitcoin, we are still in 2023 and people are expecting some crazy price action, well I am not one of them, if you are here for long term all these price actions will be meaningless to you.

Since 2025 is all I got in mind for my Bitcoin and alt portfolio I don't need to be worried about the price action, I am not even done with accumulation yet lol, so I am fine with whatever Bitcoin is going to throw at the face of every investor this year, I will advise you do the same too because the long term will condone you the most.

[Dave1]

Bitcoin's price holds steady near $27,000 as investors consider debt ceiling developments. CoinDesk's former head of research writes that with much government efforts in such large, emerging countries as PAKISTAN and NIGERIA to curb crypto activity, citizens there seem to be turning to digital assets as a hedge.

But we all know that bitcoin can't be stop by any countries.

The most valuable cryptocurrency in terms of market value (BTC) was currently trading at around $26,866, up 0.4%. According to CoinDesk data, BTC has been trading between $26,500 and $27,500 for nearly two weeks due to macroeconomic uncertainty. Crypto traders are uncertain as to how Bitcoin will behave over the next few days, weeks or even months.
The probability of default is quite low, but if it does, it might feel like a blow to risk appetite, sending cryptos sharply lower.
Bitcoin is content to trade towards the bottom of its previous trading range of $26,500 to $30,000.
Currently it's trading at $26,784.00.
Invest what you can afford to lose, it's good to hodl BTC if you can afford to lose what you intend to invest or what you invested 🌝

The last time I check it went as high as $27,300 and I thought that it will break the $28k barrier again. However, it went down in the last 24 hours, so obviously speculators are taking advantage of small increases to make money out of the weak market.

So it might continue to trade sideways, nevertheless, still a good time to buy and continue to accumulate before the price blows up again in the future or before the bull run next year.

[yudi09]

For investors who have been in Bitcoin for a long time, the market is not really concerned about the current price of Bitcoin. They will be highly motivated by this market situation to increase the volume of Bitcoin to hold.

Analysts can create and write Bitcoin price situations and conditions in accordance with current market situations and conditions assisted by knowledge, but they cannot clearly describe and give definite answers where Bitcoin will move, how will Bitcoin prices be tomorrow, next week or next month.
Everything that is conveyed is just a play on words that is poured into writing that is published in various articles or news sites.

IMO, If the former head of research at CoinDesk said that countries like Pakistan and Nigeria have efforts to curb crypto activity, he should also reflect on the state of the US economy in his analysis.

[thecodebear]

I think a combo of US debt ceiling being resolved and if at the Fed in 3 weeks there is a pause on interest rate hikes then these could send Bitcoin back up to $30k. Right now investors are just too scared.

[avikz]

I would say this is better than seeing a drop! If I take an example of the stock market, usually it stabilizes for couple of days/weeks before taking a leap. It is making the foundation stronger with demand and supply stability. That's exactly what's happening in crypto market now.

There is a huge amount of uncertainty around the world. That's why we are seeing gold prices are constantly increasing. Among this turmoil, if bitcoin price is showing signs of stability, that's certainly good.

[SamReomo]

The Bitcoin's price will hold below $30k during the month of may. The news that you have shared might had a little impact of the price but I won't consider that as the main cause of the price holding. It's true that the Bitcoin has been holding around $27k for few days but soon we will see a huge price action. It can either go down to $26k range or will move up to $30k range after the month of may.

The probability of defaulting if below low and that won't take place. Even if it happens the price of the Bitcoin will be impacted in the positive way. The default would work inverse way by altering a short time pump to the Bitcoin according to my speculation. I must say that in some cases there is a probable chance of Bitcoin going below $26k, but I hope that may not happen as that will be a huge burden for the bear market.

Well, it has always been this way, the recommendation is to invest only the money that won't impact your life in anyway otherwise you should never invest in Bitcoin or other crypto-currencies. Just think like this way, the money that you put into crypto-currencies is the money that you have just thrown into a river. Just forget about it and set a price range in your mind and stick to that, don't let any emotions bother you during the holding process. The result will be a better future. You'll surely get good returns from your investments.

[Ucy]

Bitcoin trading at the current price has nothing to do with what you mentioned. They are a drop in the ocean of what possibly could move the price.
The current market situation is actually a reflection of what Bitcoin was set to trade...which is between 25,000  and +30,000. From now onward (LORD Willing) it will be crossing 30,000 again and never drop below that until it hits new highs.

[OgNasty]

You shouldn't think of it as stagnation.  Think of it as accumulation after a large increase.  Not long ago the price was $16K.  A lot of people have profits to cash out and the longer it sits at a certain level the more people get exhausted of holding and sell.  Once the weak hands have all sold and all that is left is buyers, the price will move up again.  Consolidation phases are not bad at all for the market.  They exhaust those with leverage payments to make and those who don't believe sell off their coins for other get rich quick attempts.  Strong hands can then scoop up coins for the next wave upward.

[Z390]

All this market conditions will only affect crypto newbies the most, those who have been into crypto for the past years now understand better, they see no reason to want things to work out in their own way, instead they patiently keep accumulating Bitcoin, very soon it will be too late to buy Bitcoin and those that are hoping for 10k per Bitcoin will also missed their buying opportunity.

Bitcoin investment is never for those who want to make quick money, it takes time and instead of focusing on time it's smarter to focus on more Bitcoin accumulation, do not let the media and FUD steal your Bitcoin from you, selling because you are tired of holding because or the market situation is simply enriching some people that have more patience than you.

[maydna]

Bitcoin investors don't think too much about the price of Bitcoin looking stagnant. They are happy that the price is still like this and can go down again because they can buy Bitcoin lower than before. And if the Bitcoin price drops to a lower level, they will use it by buying lots of Bitcoins.

But for traders, this situation is a bit difficult because their profits are not too big, and the difference between buying and selling prices may not be too big. But if they want, they can still hold it and sell it when the price rises, even if they must wait a while. And it will depend on each person what they will do. But traders might still try to trade because we see in the market that the price of Bitcoin is still changing and not stagnant at one price.

[BIT-BENDER]

I would say this is better than seeing a drop! If I take an example of the stock market, usually it stabilizes for couple of days/weeks before taking a leap. It is making the foundation stronger with demand and supply stability. That's exactly what's happening in crypto market now.

There is a huge amount of uncertainty around the world. That's why we are seeing gold prices are constantly increasing. Among this turmoil, if bitcoin price is showing signs of stability, that's certainly good.

The crypto-currency market still follows the demand and supply curves just like most commodities, that's the major or primary factor, but there are still other sub factors like news, speculation this factors are louded by FOMO (fear of missing out) and FUD (Fear uncertainty and doubt) it can either lead to panic buy or panic sell which always affect crypto-currency prices.

I think the price of Bitcoin and many other coins would be more stable if the news and speculation can be put in check, but that's not going to be completely possible and in most alts whales manipulate the market true their actions, one off biggest joy now is that the forth coming halving would be a good news so we may see a positive drive in the market.

[BVeyron]

Bitcoin's price holds steady near $27,000 as investors consider debt ceiling developments. CoinDesk's former head of research writes that with much government efforts in such large, emerging countries as PAKISTAN and NIGERIA to curb crypto activity, citizens there seem to be turning to digital assets as a hedge.
The most valuable cryptocurrency in terms of market value (BTC) was currently trading at around $26,866, up 0.4%. According to CoinDesk data, BTC has been trading between $26,500 and $27,500 for nearly two weeks due to macroeconomic uncertainty. Crypto traders are uncertain as to how Bitcoin will behave over the next few days, weeks or even months.
The probability of default is quite low, but if it does, it might feel like a blow to risk appetite, sending cryptos sharply lower.
Bitcoin is content to trade towards the bottom of its previous trading range of $26,500 to $30,000.
Currently it's trading at $26,784.00.
Invest what you can afford to lose, it's good to hodl BTC if you can afford to lose what you intend to invest or what you invested 🌝

Stable btc price in USD doesn't always mean stability of its real price. Now there is a high risk of usd and other fiats inflation. So it can turn out to be something like btc is stable in usd, but usd is not stable in real values. I think there is a chance to save some money by hodling btc during inflation. However, the chance of successful money saving via crypto in case of inflation is one of the most interesting riddles in the world of cryptocurrencies.

[Die_empty]

OP I don't know how long you have been in the bitcoin industry. But I have been privileged to be in this space for about two years now and I will gladly tell you that this year has been one of my best. Last year the industry faced a lot of problems that made many people come up with different predictions. But Bitcoin came out stronger and better.

Currently, I don't think that the US debt ceiling deal will affect the price of bitcoin. Even if it does it will be minimal and short termed. Maybe this news would have caused me to experience FUD, one year ago. Now there is no going back on my Bitcoin investment plan. I don't care how low the price goes, I am focused on reaching the benchmark. 

[umbara ardian]

This is a good thing because the price of bitcoin has been increasing in the early months of this year, has been on a downtrend, and has stabilized at $27,000. A good price for many investors who want to invest more. In addition, this is also the time when bitcoin is accumulating again for an upcoming boom. This helps investors buy back and consider a reasonable price range to follow. However, this is still only in the short-term time frame, and in the long-term, it is necessary to observe whether bitcoin has really entered a new cycle. It all depends on how you see the market going and what you do about it.

[GreatArkansas]

Bitcoin's price holds steady near $27,000 as investors consider debt ceiling developments. CoinDesk's former head of research writes that with much government efforts in such large, emerging countries as PAKISTAN and NIGERIA to curb crypto activity, citizens there seem to be turning to digital assets as a hedge.
(....)

I believe with the current behavior of Bitcoin's price is very bad for most traders and other altcoins.
Because when Bitcoin does these very volatile actions, dumps, and sideways, look at other altcoins, they are bleeding. I believe that we will still experience this until end of this month.

[SquirrelJulietGarden]

I believe with the current behavior of Bitcoin's price is very bad for most traders and other altcoins.
Because when Bitcoin does these very volatile actions, dumps, and sideways, look at other altcoins, they are bleeding. I believe that we will still experience this until end of this month.

This current behavior of Bitcoin price causes uncertainty and fear for traders. They don't know what to do but they are not experienced enough to exit the market. Exit the market is the best choice at this time when you are unsure what to do, what Bitcoin will move, what altcoins will react to Bitcoin next price movement.

Exit the market will prevent your loss and give you time to refresh your mind. You might miss chance to get profit but is profit the most important thing for traders? It's not, their capital is most important. You can miss profit but if you can protect your capital, you do a great job as a trader.

[Honnet43]

Remember, only invest what you're willing to part ways with. If you can dance to the hodl tune and ride the BTC rollercoaster without losing sleep, you're golden.

[DeathAngel]

Sustained periods of low volatility usually precede a big move. The question is, which direction will that move be?
Like OP says, the chances of default are probably quite low, purely because allowing that would drive the world into real financial trouble. I am not sure the Dems will allow that to happen with an election nearing. The people would blame a default on them & they would lose voters.

So any way, expect a big move this quarter, we just don’t know when. We could get a debt ceiling increase at the 11th hour. In that scenario we might dump hard first but then pump higher once an agreement is reached.