You might be right, but have you noticed that bitcoin has been really strong around the $50,000 price and it hasn’t stayed long below that rate, anytime it does fall below $50k price it quickly recovers again and starts moving up.
But, even at that I do understand that at every time in this cryptocurrency market we have got to be really careful because we can lose our money at anytime, so it’s very important that we plan really well, and if it’s possible we can be taking little profit at every up movement that the market makes, that way we wouldn’t be losing much if it happens to fall.
The strong support at that level indicates that this bull run is nowhere near its end, it is true that we are having trouble going up but I really think this is because investors are getting distracted with altcoins and putting so much money there that they are forgetting a little bit about bitcoin.
Personally I do not really have any kind of problem with that because that is going to help people to accumulate a little bit more bitcoin before the bull run resumes in the bitcoin market, however despite the fact that this is the most likely outcome we need to always be ready for any circumstance actually happening because as we know the market of cryptocurrencies has a tendency of crashing at a fast speed and this is because many traders are using too much leverage and then they get margin calls, crashing the price and generating even more margin calls in the process.