A couple of weeks ago I was excited that bitcoin price had gained 23k+. I was positive that it was going to at least stay steady at that point for some and the go up gradually, but boy was I wrong. On Twitter this user -
Richard Heart, tweeted "Pray that #Bitcoin doesn't hit $11,000. For if it does, the sound of me patting myself on the back will be heard around the world."(What does this even mean?). Anyways, I decided to open my Binance app(I do not check the price daily. Is this normal?) only to find out that the price has plummeted to 20k. Honestly, I am not perturbed at all because I am a long term hodler. But why can't the price stay steady? Are we moving towards the dippest part of the dip? Just wanna know your thoughts. Thank you.
Bitcoin has been this way with price movement since it started, it is a money market that deal with demand and supply. a lot factors affect the price movement which include the coin halving in 4 year, miners reward, human psychology of traders, world economy etc. Halving separates the bull and bear market, whatever happens when the market is bullish either good or bad cant affect the upward movement, same as in the bear market that no good news can keep price going up. No matter your view in this market, a full 2 cycle is the only enough experience to talk about the coin's price