2023-04-14 14:00,
Bitcoin touched its all-time high of $31K which is the 2023 market high. When the market reached $31K we had an idea that the Bitcoin market would soon reach $100K.
Basically I do not understand the reason for so much volatility in the market. Is this volatility a good sign of the market or a bad sign of the market?
If you are talking about the price of Bitcoin at the end of 2023, there is really a slim chance for Bitcoin to break $100k but if we are talking about the years to come, it is not impossible. Many predicts that Bitcoin will break its all time high on 2025, and even speculate that it will go beyond $100k according to their analysis of Bitcoin price cycle and uptrend.
Bitcoin won't reach $100k as easily as we think. Here we have to see a lot of volatility in the market for Bitcoin to reach $100k. Maybe by 2023 Bitcoin can take position between $40k to $50k dollars. But such market volatility can be good or bad. But we do not accept that this instability will lead to good. But we have to remember that we have to move forward with this instability of the market.
Bitcoin market is highly volatile so it is obvious that we will often see price fluctuation ahead. Aside from that this fluctuation is what the traders wanted so that they can take advantage the up and down of the market, taking profit on the volatility of the market. This Bitcoin market volatility is not new and traders and investors had already cope with this characteristic of Bitcoin market.