Im not someone that enjoys writing about Bitcoin. I find it to be the biggest proof of how immature the crypto markets are. If no one ever mentioned BTC again id be completely fine with that.
Still, BTC is the market leader and without BTC moving up, outside some events like DEFI, the rest of the market stays put.
Ive been looking closely at how the market has been responding lately to this volatility. The first bigger dip couple days ago was bought out in a day, the smaller ones following, in hours and minutes.
So far the added volatility to the market has worked positively for the price.
How long this will last is hard to guess but id say that the fact the dip was bought out so fast shows that bulls arent yet ready to let go.
Still, Bitcoin right now is dancing around its ATH which is a psychological barrier regardless of what the "it just number" crowd says.
Wer all waiting for our bags to pump, so ask yourself, would you be ready to buy Bitcoin at 20k, 30k?
Because someone has to.
Thats the problem, isnt it... Plenty Bitcoin shills like to throw out numbers like 100k, 500k, 1 million USD per token but how many of them actually would buy at those prices?
Because someone has to.
In 2017 you had so much dumb money entering the market. Can we expect that again? Has enough time passed for a new generation of gamblers looking for a quick buck to enter the market?
How badly informed will they be this time, because caution of newbies, although should be encouraged in a fair manner, isnt actually good for long term holders when it comes to achieving short term big spikes like in 2017.
Tell them to be smart, but hope they dont listen.
2020 has been shit so far, itd be a miracle if that changes till the end of the year.
This time it is and it will be institutions. For them 20k is too little. Seriously, they would never touch anything with tiny market cap like that.
Hmm, im hearing that institutional money is what pushed BTC to ATH again. You could be right though
I'm absolutely certainly right about this. Grayscale, MicroStrategy, PayPal, Square ... Big names in the investment community talking about Bitcoin as a legit new asset type.
@tipu curate
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I believe BTC price is mostly limited by dumps. Wash traders can keep pumping cheaply with crypto backed stablecoins as long as hodlers keep dreaming. When hodlers wake up the market will crash
A lot of alt holders will take profits, wer not there yet.
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