From the last three months prices of Bitcoin are range bound and hovering around 3600$ .It seems that the prices are settled and waiting for the uptrend movement . Is it the start of the journey towards 20000$ again?
I was used to this predictions before in which it always ends to disappointment as in never going to happen as desired so therefore it would be better that we should wait and see of the market as market price is really unpredictable that is why it was considered risky.
Correct, there's no exact prediction on bitcoin price so let's wait the moment that the Bitcoin will rise up again. Let's wait that time can tell everything happens at least we are ready on that by patiently hold our bitcoin asset and yelling when bitcoin price goes up. As of now, it is hard to decide that it is the beginning of Bitcoin there's might possible to happen.
I think the point is that when you are waiting for an upwards movement from bitcoin there could be a downward movement as well. Look at the 6500 dollars times, we all expected the price to go up.
Take a look at the possibilities of that time, the potential was that we had a bitcoin at 6500 dollars per each coin, we had SEC maybe accepting the commodity, we had BAKKT starting a new ETF, we had new year coming up, all kinds of good stuff. What really happened ? Well, someone sold a bunch of coins, price went down a lot, then many panic sellers sold even more, the price went down even more and we finished the year with 3200 low.
It means what is the potential and what is the reality could have quite drastic differences, not like "small difference that is not noticeable" I mean seriously HUGE differences. Hence if you "wait for it to go up" then you may be right but there is also a chance you are very wrong as well.