Post
Topic
Board Speculation
Re: Share your opinion on the market.
by
fzkto
on 25/09/2023, 15:11:30 UTC
I hardly oppose to most things that are said in here. The market condition wasn't the same as before. Today's trading is different. It may look alike but it is completely different circumstances, economic events, and fundamentals. Every price action in the marketplace is unique. We're actually in a down-trending market and no longer in a consolidation.

The second thing is about the ultimate goal of trading. It is following the plan. Making money is just a byproduct of the discipline and work-ethic of following one's trading plan.

The market price of Bitcoin is till dancing around $26k and for almost a week now there's no form of leaving that amount and at some point it seems to be the price for this month before entering October.
I still don't know why it hasn't gotten to $27k but when the price grows to $26,700 it will come down drastically, what's really the cause? Because we're still expecting it to go beyond $27-28k before the end of this month.
No need to be confused but just enjoy the price movement because it looks like the price still can't increase too much.
Even if it can, it may not reach above $29k, so we have to be satisfied seeing the price can reach higher than it was some time ago.
There will be a time when it can increase drastically and in the meantime, you should focus on collecting more bitcoins because the time to increase drastically may come suddenly.
I'm still not sure if the price can surpass $28k or even $30k by the end of this month but who knows, it becomes a reality so that in the following months, bitcoin can rise even higher.
Now there is news that microstrategy has bought some bitcoins again. Strangely enough, but usually after such news there is a drop in price. I don't know if we should expect a repeat of this story now, but it seems to me that we will see a fall ahead one way or another. There will be a halving soon and people will need to be scared to buy coins as cheaply as possible.