Post
Topic
Board Speculation
Re: What do you think of the current bitcoin price recovery?
by
skarais
on 13/08/2024, 16:40:56 UTC
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Why are you so interested in what the price is going to be in the first half of August or the month of August, are you planning on selling this month or you just want to discuss the price. If you are thinking of selling, I will ask you to reconsider that option. I do not like it when the focus is always about what the price of Bitcoin is going to be in the near month but I am interested in what the price will be at the end of the bull market which if we are following what happened in other bull market, was should be expecting the highest point of the market to be next year when Bitcoin will get its highest price. Still though I do think we can get pass $70,000 because the market has bounce back stronger and it is just looking for a strong support before it begin to rise again then we can see $70,000.
The market is trying to recover, but I'm still getting high selling pressure. As a result, bitcoin is still having difficulty maintaining its price at $62k, and now the price has even fallen to $48k. A few days ago, there was a breath of fresh air regarding recovery, but the market still looks bearish in the near term.

Selling now is certainly not recommended as a wise decision, they should accumulate instead of selling. I don't blame them if they want to sell their bitcoins now, but I don't think this is the right time. Wait longer until the market recovers and they can sell at a higher price than now. The best thing now is to stay calm and continue with the main plan in investing.