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On Monday, February 22, there was a significant decline in the price of BTC, as well as in BCH, which made many small investors nervous and unleashed the alert about the end of the uptrend and a possible sharp fall of correction very similar to those that occurred in the other great peaks.
Source: Screenshot of Coin360 - 2021/02/22
It is not surprising that those who pursue quick profits through speculation in trading start selling by following the maxim of selling high and buying low. But the key question to ask yourself, was the peak reached in 2021?
I am not a financial expert, nor do I have inside information. So I recommend that you read my considerations on this matter critically, looking for flaws in logic. In such a way, ignore me and made your own decision, apply common sense based on your appreciation of reality.
On my rounds of noise.cash I read concerned comments about the news of the day, Red Monday for BTC, following a tweet from Elon Musk indicating that the price has gone too high. No one denies the influence of his comments, both in the traditional financial world and in the crypto market recently. However, pure and simple logic indicates that behind the words there is a subtle manipulation not so innocent.
Also, consider that today there were statements by the representatives of the main central banks of the planet undermining the credibility of the cryptocurrency market. Sure, it seems like a coherent agreed strategy, the speech is aimed at paving the way for when the digital currency of the dominant economic blocs is launched, the evolution of Fiat money controlled by the states, and international banking.
The BTC is the cryptocurrency with the highest capitalization where all eyes are fixed, and so far, it seems to drag the behavior of the rest of the currencies indirectly. Although I believe that this will change in the future as the other projects are consolidated and allow the expansion of borders beyond being a means for the exchange of goods and services. However, the one that performs best, offers solid security and stability, will become the dominant money. For now, BTC is in the lead, being the first to emerge, but do not doubt that some of its branches will replace it. It's just a matter of time. BCH is a strong candidate, it is undervalued but being aligned with the promise of the initial project, it has a high probability of establishing itself as the benchmark.
In the meantime, don't lose focus. Will BTC have already reached the maximum peak this year?
On noise.cash I threw the question and hoped they would justify it. I did not pretend to technical and specialized answers. There are highly qualified people on social networks to whom to turn. I just wanted to collate opinions of people like me who are interested in the subject.
In this regard, I received seven responses. Three agree that the peak will not be greater than 60K, that is, BTC reached the maximum peak this year and from now on the correction will be seen. The others predict that it will be 60k, 80k, 100K, 140k, and the most optimistic gives a maximum range between 200k and 250K, even stipulating the probable dates between November 2021 and January 2022. None gave the reasons, except for who proposed 140K, the right, said JP Morgan.
I think about how difficult it is to get accurate forecasts, and I understand why newbies lose when they first get into trading. There is no best option, it all depends on the scope of your objectives and goals, such as choosing a good project. Personally, if you have invested in BTC and you are not urged, follow common sense, keep it in a wallet where you are the owner of all the keys, and not in the addresses of the exchanges. Experts predict are will continue to rise even if they do not agree on when and the amount of the price.
Source: Screenshot of Coinivore - 2020/12/02
I think the uptrend is not over yet, and there will be a rebound soon. Why? Simple. Tell me which of the big influencers ran to sell their BTC. I haven't seen Tesla do it. Also, consider for a moment, the sanitary measures of pandemics and their commercial repercussions such as the issuance of more Fiat money that is devalued, the regulation projects for the crypto market to guarantee the investment of traditional business capitals and To give a tax framework to the activity, and the appearance of new financial products based on technology. In short, the trend will continue to rise with corrections much smoother than in the past. For these reasons, my prediction will be conservative 7x, that is, the peak will be 140K