...what do you see?
If anything can be said about the current Bitcoin bull run is that it's an ambitious one.
Covid-19 for one thing was definitely an eye opener for economies and communities both as individuals and institutions.
In search for alternative ways to hedge funds or create passive income, many onboarders jumped ship into cryptocurrency.
Including institutions like PayPal, JP Morgan and as such has helped to bring more novelty to cryptocurrency's brain child Satoshi Nakamoto's Bitcoin.
Bitcoin has been having a good run for a long time now since the third quarter of 2020, but can we really say it's still sails on good waters.
No doubt that Bitcoin is currently in hot waters as it is currently reaching for the overbought peak, but what is technical analysis to sentimental demands.
With newly Elected U.S President Joe Biden pushing for a $3 Trillion Stimulus package budget, more money are likely to go into Bitcoin purchases.
And in Asia, South Korea, Exchanges have shown to have recorded a huge number of Bitcoin sell offs in two single trades a day...in the tune of 2,087 BTC.
Going by CryptoQuant's analysis Bitcoin whales are likely to stay on course if it reaches a support level of $38,000 ish to $38,619 thereabout.
If there is anything these two contrasting features spell it's volatility which might likely encourage cap. liquidity or the opposite.
And as of now Bitcoin currently sits pretty at $40k it however made a sharp correction from $42k to $40k within an 8 hour parabolic move as at of today Jan. 9, 2020.
Could such shift just be as a result of weekend inactivities experienced at wallstreets indices and options or just a sharp correction.
May not like be weekend inactivities, reason being a huge percent of the altcoin tokens have been all up since yesterday and still moving.
...in my opinion, i do think a pause followed by a market correction is close by (but how far that correction would dump down is something i'm not sure of yet) before the next big pump.
But again, with all of that South Korean sell off, U.S Bitcoin accumulation and the soon to come $3 Trillion stimulus checks to hit we might just see a continuous upward trend.
However it may, the word here would be to apply caution.
...where do you see Bitcoin heading to by the end of this first quarter all through to the second quarter of the year?
And are you likely to buy more or sell?
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