Post
Topic
Board Speculation
Re: Can the price Hit back $50k this month?
by
South Park
on 08/07/2022, 07:28:00 UTC
I can't really imagine bitcoin going up $50k this month, Even $40k is pretty hard because of our current market situation. It's too early for it to recover. I've seen some technical analysis in the internet and non of them reached around $50k price, Really it's impossible given the time span of 1 month. Imagine bitcoin doubles it value in just 1 month, It's a miracle. I'm also curious about the research you did, Where did you research it and how come you end up on $50k.

There is no chance that bitcoin can reach even near to the 50,000$. We are not in a bull market and also there are no fundamental events which can pump bitcoin to this level. Although anything is possible in crypto but still i can safely say that bitcoin cannot even reach 50,000$ in this year 2022. I would be happy if bitcoin does not dump below 17-18K and stay above 20K.
It is that simple, it is true that technically anything can happen in the market, but we also need to consider the chances of such a thing actually happening, for bitcoin to reach 50k during this month we will need to witness events that completely change the direction the economy and the whole world is moving, and while we could imagine a few events that could do something like that and allow bitcoin to grow in value, it is simply too difficult we will see them happening during the next few weeks.