Why Bitcoin Can't Break Free From $80,000

[Alpen]

A bullish trend is just a matter of time

Past performance of any asset is no guarantee of future results. Even Bitcoin is no exception.

[Danica22]

And just to reiterate, we are still in the bear market, meaning the price should be declining as we will go on a consolidation phase.

You have pointed out something that many of us are missing. We are focusing too much on macroeconomic factors, from geopolitics to inflation or the Fed appointing a new chairman, and forgetting that the bear market is not over yet. So, it is not surprising that Bitcoin is still struggling to move higher.

In a bear market, what we need to do is focus on accumulation, rather than setting unrealistic expectation and hoping for a strong price surge in the short term.

[summonerrk]

It seems Bitcoin is correcting by 75k again. And after that, there is a great potential for growth. The current situation is Almost 15% of the total Bitcoin volume is currently concentrated just above the 200-day moving average at around 83-85 thousand dollars.
I believe that in the event of a breakdown of the $85,000 mark, growth to $95,000 will occur fairly quickly. The cost of acquisition from long-term holders (TMM) and strategic holders (STH) remains a key support at around $77k. Now it seems that the moment of truth has come and it turns out that this is all a correction or it will fall below 75k.

[maydna]

So what if Bitcoin can't break free from $80,000? That will not be a problem. You gets more time accumulating Bitcoin and buying at a low.

That is something the investors wants and they already takes their part and hodl it. Bitcoin will break free from $80,000 and even will be back to $125,000 so no need to worry and just take your time and enjoy the ride.

Bitcoin drop below $77,000 and now is at $76,000 level so this could be a good time to buy more. You should not worry and stick to your plan. But if you are a trader, you should analyze deeper to finds your entry.