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?
Right now the answer seems to be neither of your two options, in my opinion the price is going through a phase of stabilization in which we are going to see the price moving sideways for some time and I think is healthy for the market since it is impossible for it to go up all the time, however at least to me it seems that all the signs point towards bitcoin going up in value during the next weeks and months.
Bitcoin is finally becoming a store of value and it seems that institutional investors are worried about what it is this happening with the economy, governments are doing their best to try to revive it but unfortunately governments have only one trick up their sleeves and that is creating money and it seems that trick is not working anymore.