The current price of Bitcoin has broken through $40,000. ZB.com research report said. There are two factors driving Bitcoin's price surge. One is that retail investors have paid more attention to it. Second, it has something to do with institutional investors competing for hoarding Bitcoin. According to the market, Bitcoin still has an upward trend according to my bias , what is your opinion ,are we going bearish or bullish?
Actually it is quite true that Bitcoin growth can be attributed to retail investors now paying attention to it as well as institutional investors, and that was the reason whenever Bitcoin drops in price, instead dropping further, it will only gather more strength as these investors sees it as an opportunity to buy more hence Bitcoin growing up again; this is totally different from the last bull run. In addition, we should know that, with the price increase so far, price correction is bound to happen; actually this price correction is also seen to be needed in order to have a healthy market and of course will also give investors the opportunity to buy more.
Furthermore, it is very important every investor know that, just as predictions failed for the price growth, in the same way, no one can predict how low or how deep the price correction will reach, therefore if you are a short term holder know when to take your profit, but I don't think the same applies to long term holders.