Post
Topic
Board Bitcoin Discussion
Re: Is the current bitcoin price sustainable?
by
JuicyFruity
on 19/02/2021, 00:04:27 UTC
I would've been cautious about bitcoin having stability at $50k but the market indications point to further gains. Maybe corrections will come later than first thought. Bitcoin isn't the only crypto flying with high value, it's amazing watching the gains some altcoins have made just look at Ethereum, Binance Coin and even Dogecoin.

It's a safe bet that bitcoin with over 60% of crypto market value isn't tied to the success of other crypto to the degree others rely on bitcoin, so it's clear if bitcoin value falls it's going to drag everything down with it.


It wasn't a surprise because bitcoin was close to $50k price for a couple of weeks but will it be stable there ?

During the next week will the price be heading downward because of sellers making profits or is it going upward when the next price to generate media interest will be $75k ?

It's difficult work out if it's going to stay stable at $48k to $50k
It all matters with the demand and we cant really tell yet if this price level would be sustainable or not or we will see some hard correction soon but
basing up on what we observed then it do able to held up still on a good price and now we are somewhat stabilizing in 48k price point which isnt
really too far off on 50k levels which is a good thing for you to consider on buying up this one before it would able to shoot up to 50k but of course
everything isnt sure yet but we have been into this situation or circumstances for many times towards bitcoins price behavior.