hello, all my friends... now the price of bitcoin has increased quite a lot... and now bitcoin is in the range of 27000.
but I want to ask do you think the price of bitcoin will continue to rise until it reaches 50000 or not... ?I want to hear it from all of you...
and if I sell my bitcoin now I'm afraid the price of bitcoin will fly even higher... I want to hear your opinion...?
Well at the momemt, you will already see where Bitcoin price have reclaimed back to and at that we must equally speculate with a lot of data and facts that will support our speculation even though we may not be accurate on what direction Bitcoin price will go, but at the moment Bitcoin have relied heavily on the 30k price region for quite a while now and that is a pointer that Bitcoin is beginning to build liquidity around that price benchmarks. And going forward there is the possibility that the price will move above 35k to build more resistance around 30k-35k for another round.
This is a good point about liquidity, as the initial move to $30K wasn't supported by high volume, in fact relatively low volume compared to previous moves to $20K or $25K. So unsurprisingly, this level hasn't "stuck" as new support or a consolidation/accumulation zone yet. As telling is the current selling pressure that is also relatively low volume. So while the move to $29K is starting to look like a fake-out to the upside, the correction back towards $29K also lacks a lot of bearish conviction based on volume and could easily become another fake-out without a re-test of $28K previous accumulation zone.
Fortunately I think most speculators respect volume as a key indicator of strong/weak buying/selling pressure. So far there isn't much to suggest that price will go considerably lower based on the current low volume in the market, likewise not enough to suggest it will go considerably higher. But just like previously around $28K, enough consolidation can create the opportunity for a break-out to higher levels.