Quote from: magneto on March 05, 2019, 07:09:51 PM

Quote from: indoagung88 on March 02, 2019, 07:42:47 PM

I see something heavy and maybe difficult, when the price of bitcoin will touch $ 4000, then drop dramatically down. In your opinion, what is happening with the current condition of bitcoin. Is it because of the market that hasn't really recovered? or is there bad news?

There is certainly resistance there.

I think that the primary factor is that we are still currently in a bear market, and that bearish sentiment of traders is hindering a full on recovery still. However, I do believe that this phase of the cycle will soon come to an end, potentially in the second half of the year.

This resistance has nothing to do with the fundamentals of bitcoin but everything to do with the reluctance of traders and investors to take risks when things are looking bearish and there isn't much activity within the market. Perhaps it's also got something to do with the mining dynamics as franky mentioned, but to me, the psychology of investors is mostly at play here.

I'd definitely accumulate BTC right now if possible. That's the bottom line.

I also think that this line is just a psychological blockade of investors. Everyone is still afraid that this is not the end of the bear market and they are afraid to go into long-term investments. However, I think that the longer we stay at this level, the investors' self-confidence grows and soon resistance at the level of $4k will be broken.