Bitcoin is still playing with the nerves of the speculators... and their hearts are almost stopping... especially those who bought at a bullish point that fell a lot from it during the recent downturn.
And the perennial question: Where are the Bitcoin prices going?
Will it come back under $ 6,000 as pessimists expect? Or does it jump to $ 100,000, as optimists dream?!
I try to provide an answer... But!
This is an attempt to provide an answer... But before that, I must make it clear that what I am saying here is just a personal point of view and expectations that no one should ever rely on to make a decision to invest, buy or sell... It is simply not economic advice to you in any way. I do not work all the time on studying candles, reviewing tables, following up charts, analyzing results after examining the introductions, identifying the causes, and referring to the metaphysical dimension and axial orthogonality to the end of this complex speech!!
I am a journalist and I am not a specialist in analysis... but I see with the eyes of a field journalist... and I watch with the awareness of an investigative journalist...
All I do is have been following Bitcoin's behavior since this rising wave started at the end of last year and has not stopped until now...
I watch cryptocurrencies run to catch up with the bitcoin locomotive flying at rocket speed most of the time... I also watch speculators and money hunters gasping behind the controversial magic coin, which has gone beyond the mystery of its founder, Satoshi Nakamoto, to form a mystery and myth of its own!
Money hunters like Elon Musk move Bitcoin prices!
I have been setting my expectations for Bitcoin prices on a daily basis... and I repeat that they are my expectations... just expectations... I hope they will not be dealt with in a way other than the one I describe now, according to what I also mentioned before.. that is, following the behavior of Bitcoin through behavior Investors and speculators in it... noting two very important things:
A- There are money hunters who play surprising and exceptional roles to move prices (up or down), and perhaps the most prominent example of these is Elon Musk, who writes a tweet for Bitcoin whenever prices fall... and he certainly does this only to preserve his investment in Bitcoin, which amounts to $ 1.5 billion. Through the Tesla company that he owns... You have undoubtedly noticed his long silence during the previous period because Bitcoin was maintaining the level of 55 thousand dollars.. and when the decline began, it caused concern when the price reached for the first time to 53 thousand dollars... A new tweet came that. Elon Musk wrote to save his money and keep his profits!
B- There are hidden individuals and entities that use Bitcoin in money laundering operations contaminated with the drug trade, weapons, or terrorist financing in many regions of the world... For these, Bitcoin is a golden opportunity, and perhaps this point is precisely what angered world leaders and their categorical rejection of Bitcoin and restrictions on it And banned, as happened in India, for example, a few days ago.
The rule with bitcoin is that there is no rule!!
The rule that I ascertained from it while monitoring and studying the behavior of Bitcoin and other cryptocurrencies... that there is no rule!!
Prices rise suddenly and at unreasonable record rates and vice versa.
Therefore, it is not surprising that many analysts and experts talk about the psychological factors that drive Bitcoin to rise... They have talked a lot about this to explain the continuous bullish wave of Bitcoin...
Therefore, speculating on Bitcoin represents a real risk..without exaggeration, you may lose everything you own and may win times what you own!
It is an adventure... but it is an adventure fraught with extreme risks.
Perhaps this was the real intention of Bill Gates’s advice, who advised people not to invest in bitcoin except for those who own the fortune of Elon Musk.
Many people have misunderstood his words, but the truth is that he is completely right..and far from Elon Musk, you can translate Bill Gates’s advice with this sentence: Never invest in Bitcoin with your primary money... You may lose everything suddenly!
For more clarification, I invite you to look at Elon Musk's investment in Bitcoin... He bought Bitcoin for $ 1.5 billion... Certainly, this is a huge and mythical number for me and you... but it constitutes less than 1% of Elon Musk's fortune!!
Where will Bitcoin go in the next period?!
Bitcoin is still resisting the downward trend and seeking more ascendancy after a sudden drop to less than $ 55 thousand that was maintained for the past period... When it fell to 52,000 dollars, it was a candidate for a further decline... But this decline did not last for long... You can say that it did not hold for only about two days, after which the bullish wave began to return to Coloring indicators in a cheerful green color, especially for Bitcoin speculators and investors.
The $ 55,000 level before the latest drop looked like a launchpad for Bitcoin to new highs.
My personal expectation is that the fluctuation in the price will continue up and down until the price moves above the level of $ 60 thousand and remains above this level.
If this happens, a new bullish wave will start, achieving an unprecedented historical figure, when breaking the $ 65,000 barrier.
However, the psychological factors that we have referred to, as well as the background operations that are carried out to launder dirty money, in addition to the tweets of influential money hunters... All these factors may move prices unexpectedly up or down.
Do not rule out anything... Bitcoin prices may suddenly drop to less than $ 6,000, as the pessimists expect.. and it may reach $ 100,000, as speculators and investors in Bitcoin wish.
So I always repeat the advice: Be careful if you decide to speculate on Bitcoin.. and never invest with your primary money so that you don't suddenly lose everything!
Attention:
1- This is just a personal expectation and not advice to buy, sell or invest... You should not base your decision on this or any other prediction like it.
2- My expectations are not based on scientific analysis.. but they depend on experience and reading of Bitcoin’s behavior.. so you never rely on it to make a decision regarding buying or selling.. even if they are correct all the time.. in the end, they are nothing but expectations and an in-depth reading of the currency’s behavior through Monitor the behavior of dealers and speculators.
3- No one can predict the behavior of the market by 100% because this is against logic... especially in light of the manipulations taking place in the cryptocurrency market... one of the money hunters may write a tweet that goes up in a currency to the sky... and a rumor may be launched that plunges another currency to the bottom!
4- Be careful and do not risk speculation on a cryptocurrency with your primary money.. you may lose everything you own in a few moments.. and do not invest or speculate on a currency, no matter how promising, until after studying it well, understanding the trading mechanisms and forming a personal opinion about it.
Just hold them cryptos tight regardless they go rocket or they go plummet. Long-term for the win !! Good article !