Post
Topic
Board Speculation
Re: Bitcoin is getting more bearish, what is the trigger?
by
jaberwock
on 05/04/2022, 09:08:06 UTC
Of course we do not expect the price of bitcoin to return to its lowest price. However, it is possible that the price of Bitcoin will fall again from the current price and the possibility that the price of bitcoin will drop to the next level around $40,000, $39,000, and $38,000. However, the market may experience a lot of short-term based trading and a lot of volatility and the Relative Strength Index technical indicator is poised to cross into oversold territory.
There is a big difference between reaching 30k levels and reaching 40k levels. I mean we were 38k to 42k just a few weeks ago, we recently broke above 45k and have been doing fine and I respect that. However we need to realize that it is not really that shocking for any of us that the price could go down to 38k yet it would be a bit shocking if it reaches 30k. Even a war couldn't bring it that down, even the fear of Europe banning mining didn't bring it down.

Basically all the bad possible things happened and bitcoin didn't budge or move, if it happens right now then we would all know that it would be manipulation. If it didn't go down during bad periods, why would it go down out of nowhere, it is nothing but manipulation.