Post
Topic
Board Speculation
Merits 2 from 2 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
gallianooo
on 22/09/2022, 14:24:08 UTC
⭐ Merited by Gachapin (1) ,Hueristic (1)
Yall think we can break 20k again today ? after the "somewhat" bullish interest hikes report ?
I don't think it's happening today even though the current Bitcoin price isn't that far from $20K, but so far it's still not at $20K and I don't think about what you're saying because for $20K the price on Bitcoin is something that has been seen very often in today's market conditions. So it's better to think of something else than to think of a price of $20K which is definitely not going to be difficult for Bitcoin to hit within this month.

If 20k was the bottom then the price of BTC would have already gone up by now. History says BTC never stayed to its bottom for a week. It bounces back very quickly from its bottom. Also visiting multiple times under 20k and staying there for such a long time indicate that investors are not ready to buy BTC at these levels. Probably they are waiting for more down.

I'm also not sure if we bottomed yet.. But your explanation is wrong.

Look at the end of 2018 BTC chart. BTC was staying at the 3K level (bottomed) for 3 months (december 2018 till march 2019).