Post
Topic
Board Bitcoin Discussion
Re: Why has Bitcoin skyrocketed recently?
by
Faisal2202
on 24/10/2023, 13:56:04 UTC
Why are all cryptocurrencies soaring these days? Does anyone know the inside story? Huh Huh Huh
I was also going to see if anyone asked this question or not, although I knew the answer, when the news of lisiting approved of BTC ticker got public. I thought it might not be that much of importance but it was around 2 o clock of the night here, so I slept and when I woke up the market was up.

That me's created so much hype, that demand increased over supply and price of btc started to increase. But my bets were, btc could not go above $32k but when I saw BTC crossing $35k I was shocked. I avoided doing future trading and did some buying for holding purposes and making some profit on those. But those who took short trade are now liquidated. That is so unfortunate for them.

And generally speaking, this is just a temporary up, use of skyrocketed term would not be wise, because btc not been pumped to $50k yet. I will call it skyrocketed when it will jumped to a $50k minimum. Overall, this news of BTC ETF's ticker getting listed acted as a domino effect which started a good vibe series in the market.

Now the best practice for all of the in esters including holders and traders is to book some profit at least half of it and then re invest it in btc or whatever coin you like. It is not a financial advice, just a opinion.