https://www.coindesk.com/bitcoin-struggles-above-9k-as-bull-breakout-stalls/It seems as though the bull market everyone is hoping for and expecting is on pause at the moment. BTC has hit a point where every time it touches 9k, many sell orders go through and push it back down just below this mark. There will be a time when buys will overtake these momentary road blocks. Until then its just a waiting game.
Good Luck Traders,
The Elysian Team
I can't really say anything about the upcoming prices but this reminds me of how we were stuck at 7-8k for a while. We really didn't get out until this past week, and when we did get out, there was some pretty positive reactions from the general community. If something like that were to happen again, it's likely that Bitcoin would have the momentum to keep going higher. However, there's also the case that a good amount of people pull out their investments because they don't think BTC will go further, so in that case we may be in a limbo again.
I partially agree with you here. It is true that positive reactions from the community could help Bitcoin and majority of the market rally like crazy, but I do not think that investors will pull out their investments especially when so much good news is helping the market grow at the moment. Few investors might pull out their investments as you said, but majority will most likely HODL their coins for the long term period. At the rate at which the market is growing, it won't be long before Bitcoin reaches a new all time high by surpassing its previous high. Hoping that this green market continues for a long period.