I loved Dec. but now the bear cycle came down on us so fast like an elevator. So what does that mean for the near future are we taking the slower stairs back up for BTC?
I'm glad we had double-digit growth couple days ago, but now it's like so slow and not just busting through $9-$10k.. what the heck BTC.
What are your thoughts, elevator down and stairs up or not?
The price is at its most fundamental decided by confidence in bitcoin. When confidence begins to fall it can evaporate almost instantaneously and in order for that confidence to return it takes time. But when people do start to regain confidence it will again increase at an exponential rate. Some time is just needed before people are confident again that the crash is over.
Is it true that self-confidence can affect the price of bitcoin? I think that self-confidence does not affect price but for yourself. some of the articles that I have read are several factors that influence the price of bitcoin, the volume and distribution of Bitcoin, speculation of traders, fraud modes and those involving bitcoin. In addition, there are also several reasons that cause price formation. In determining the price, context and market environment will also affect prices.