Post
Topic
Board Bitcoin Discussion
Re: Is the current bitcoin price sustainable?
by
AmoreJaz
on 16/02/2021, 22:09:37 UTC
It's just a matter of time whether Bitcoin will continue to rise or not nobody knows what will happen in the future. But please remember that Bitcoin did manage to be stable at $34k to $38k last week and now it's a bit different because there's a bigger player joining in the bandwagon after Elon Musk bought $1.5B worth of Bitcoin.

We never know if some bigger names start to participate then buy some Bitcoin and that's for sure will start a new push of the price to hit a new ATH. But if there's no new big institution/bigger investors then we should slowly expect a slowly decline of price over time. But I don't know what price is the support would be.

stability in bitcoin's price right now is hard to attain as more and more stakeholders want to get in or buy more. just like MicroStrategy, they want to buy more BTC like about $600M. so it is hard to stabilise  in a certain range because it tends to move fast if the demand is still high in the market.
no one can tell you when will it attain price stability. what you can do is keep an eye in the market and read current news.