Post
Topic
Board Bitcoin Discussion
Re: What one factor can cause the current bull run to stop ?
by
Odusko
on 08/12/2024, 21:16:41 UTC
What one factor can cause the current bull run to stop ? Like US making some law against bitcoin.
One of the biggest cross line that affects Bitcoin price so much is political unrest towards Bitcoin e.g like countries like the United States or China making a negative comment about Bitcoin and it adoptions with in their country, this will send a lot of fear and create fomo within the Bitcoin market to the point that the current Bitcoin price could drop more than halfway down the line, but aside from this political attacks, there is going to be a hard resistance for Bitcoin if any other market manipulation tool is used to try dragging the price downward, and at the moment, with the look of things, Bitcoin is gaining a lot of momentum and the just elected administration of the United States have a positive mindset towards Bitcoin, so instead of expecting a potential threat to Bitcoin value, we should be on the lookout for positive break out for Bitcoin, we may likely see more uptrend price moment for Bitcoin the moment Trump administration kick off in full force.

At most cases what we can see in the Bitcoin market price is a slow resistance and correction and any time from now we may likely see a breakout that will add up another $10k to the current value of Bitcoin to establish another price benchmark of at least $110,000 Bitcoin price, so we have to be more positive in our approach to Bitcoin in this period of time so that we won't miss out in the next leg up for Bitcoin after we already experienced a sharp dump which took us from 100k to 90k a 10k melt out value before Bitcoin recovered back.