We've watched Bitcoin price depreciate steadily in the last 24 hours, so many are asking the question "why is Bitcoin dropping? " and there's only one answer for it, read further to find out. From recent data, we witness a rather similar occurrence between December 2019 and January 2020. Bitcoin was sitting on a price of $7,265.69 as at December 1, balancing on that price a couple of days then retarded to $6,861.92 in mid month, the likes of what we saw in the $30k break last year. Bitcoin has been showing a relatively stable price from the kick in of the new year, the $40k break to $41k was a rather shock reach, but if we look back, this is like a repetition of history when Bitcoin buckled up to $9,501.38 after falling from $7k reach to $6k 2019/2020. The struggle up was rather simultaneously to its backslide on a repeated motion, kinda what we are seeing now. I've not been in the Crypto-sphere so long to fully grasp the Metrics, but we should expect $45k to $50k at the end of January and some sort of prompt Retard in february. The modest pump is often backed by a huge crash, and it's stable-struggling form is often a hint for a heavy crash. Some stories say Lots of Satoshi was traded for BCH, no doubt we saw a massive pump in Bitcoin Cash, for some sort of reasons buy ups were constantly ascending, causing BCH to pump as high as $200 more, from $421 to $613. Bitcoin cash pump brought some sort of enthusiasm in its market activities, but what was rather saddening and sudden was how it retarded, following up Bitcoin crash from $41k to $31k, Crazy drop in few hours.
Bitcoin price volatile or just predictable?
With Bitcoin nature, it would be fair to say it's price changes are becoming predictable to be frank, but what's uncertain is if it's becoming volatile? Bitcoin tends to stabilize relatively for a few hours after a pump, then domentrate a rather Retarding trend, it often has a short span Uptrend, almost like it's volatile. Most cryptocurrency are prone to indefinite price fluctuation, but over the past months, bitcoin soaring so high was the biggest bait to buy trust in the project. We noticed how high buy orders filled the air since the $18k reach, it's funny how it's doubled up in just a short while, but fall backs are often depressing and causing insecurities, what gives?
Bearish me, Bearish you, we sum it up
Well, one thing is certain in Crypto-sphere : dump me and watch me Retard, it's not history that is repeating itself, it is us that's replaying history. In that last 24hrs, bitcoin has had a net change(loss) of $-6,138.43, so then, in reverse psychology I say : If it dumps harder, I'll keep on hodling ( curse my bearish tongue ) this implies that a closely relative dump has been applied, and that's the bearish folks that triggered the crash. That could only be retail traders, either dumping for BCH or Dumping for ETH, whichever it is, that pulled the trend down so low. Question now is ; what's next? A continuous downtrend or what?
The Curves Meet At Ends : It's Forming a Circumference
There's a silly talk that goes like this, I quote : " In other to Jump higher, you have to take a few steps back"
Bitcoin logical price fluctuation and seemingly volatile nature is tied to this shit talk, a supposed motivation. At the time of writing this, Bitcoin is slightly picking back a few broken pieces, the price has forged ahead to $33,084.00. Bitcoin will always experience such dumps because while some are holding, others have to pay bills and shits, so higher retailers are dumping to meet their needs, and some are selling to have larger holdings in smaller Commodities, but in real sense, it is bound to shoot itself back to life because the dump signifies a step back and the next pump reveals its planned heights to achieve. So then, from this little opinion of mine ( may be flawed) I can say we should expect something big real soon, an aggressive dump equals an aggressive pump, the buy backs will pump shits real soon.
Gif created by me :)
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