Post
Topic
Board Economics
Re: Bitcoin investment
by
TheUltraElite
on 24/08/2021, 05:47:02 UTC
Bitcoin price movements lately have made many people optimistic that $64k is not the highest price for bitcoin this year, meaning that there is still a possibility in the next few months the price of bitcoin will exceed that price.
The bulls tried to top 50k yesterday but it did not happen and correction brought the price back to 49k USD. But this shows that there is buying pressure as there is selling pressure too at the 50k USD mark. Crossing it will need a continued buying pressure over some days indeed.

Quote
currently the price of bitcoin is in a positive trend, and is most likely to break through ATH in the near future. so the target of $100k this year is not impossible.
Nothing is impossible, but logically speaking, first it needs to cross previous all time high and that is 65k USD. This will be difficult because a lot of correction points are going to appear while the price rises. But eventually yes it will rise beyond, however the time taken to do so may be more than a few months.

Therefore the prices lower than the current price are lucrative for people trying to get into bitcoin and make a profit.