Bitcoin has pumped by 30% in last two weeks as the value of bitcoin was $32917 (lowest on that day) on 24tg January 2022 and it touched $43000 today and this can't be bull trap as its a sure signal that Bitcoin is rallying towards $50k once again.
I thought it's a bull trap but there will not be a leverage of 30% for bulltrap and I have decided to invest back into crypto and infact cashed in once it crossed $42k. What's your take on Bitcoin price?
I would not call it a bull trap or a bear trap. 30% movement of bitcoin in two weeks is just normal especially when you expect most volatility because of the Ukraine Russia war crisis.
What we've been experiencing from the beginning of the month is out of the Russia-Ukraine war impact. This has made the market more volatile for the traders to profit. Apart, the increasing usage of cryptocurrency at times make the market bounce and reach the peak. Market volatility relative to an incident will lead to growth after the specific incident or after the market correction which happens after every peak price.