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Cryptocurrency academic: bitcoin traded sideways at 10.18, how to seize opportunities in the fluctuations? Reference to the latest market analysis.
The current price of bitcoin is 67300, it's now half past eight in the morning peking time. The daily candlestick just closed, encountering major support at 68400 as expected. The support is effective, and as anticipated, it is not expected to break the previous high in the short term. However, defense measures should still be taken as the market enters consolidation at high levels. For short positions, the remaining strategy is to wait it out. Only those who can endure loneliness can protect prosperity. It remains to be seen whether everyone can handle the psychological pressure brought by the market fluctuations.
Is the impact of 10.18 bitcoin hitting 0.07 million points causing a shock a buildup or a failed impact?
From various aspects of the situation and technical analysis, we still remain bullish on breaking through the upside after a slight pullback!
Bitcoin surged 13% in a week. Is this a signal that Trump will win the election?
In the past seven days, bitcoin has surged by about 13%, with some investors seeing this rise as a signal of market expectations for the victory of Republican candidate Donald Trump, who is seen as crypto-friendly, in the US presidential election.
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TechWhiz : Your arguments apply to gold in the early days too. Gold had industrial use, btc has financial transaction use.
Why gold and not other metals? The market decided on it as a store of value thru time. Now as tech improves , the market of new, tech savvy investors are deciding that btc is or will be the digital gold.
No 2 ways about it. The market decides. Maybe this new generation of investors love rat poison? So be it.
Ask Blackrock.
David Lee cm OP TechWhiz : Gold was a status symbol in the past, owning bitcoin is not a status symbol. Money launderers, smugglers, crime syndicates used bitcoin as transactions, who wants to be associated with these guys.
TechWhiz David Lee cm OP : Once btc crosses 100k or even 1m, you will wish you have this status symbol. Every revolutionary thing takes time to develop.
The bad actors are always there... in stocks, currency, real estates, etc. Owning these assets does not mean you are one of them. Does Michael Saylor look like a criminal? is Blackrock not respectable? Don't worry about these bad actors, they will be take care of in time.
Times have changed. you must change with the times or be left behind. It is a pity that people reject disruptive tech due to old beliefs or misunderstanding of what it is.
BTC represents a revolution of our times, just like electricity, the telephone, the internet and now AI.
Next revolutionary thing will likely be Quantum computing . please don't dismiss this too
David Lee cm OP TechWhiz : China has banned bitcoin for the reasons I listed below and it is a threat to central bank policy making. China is developing ai, quantum computing, AR, robotics etc., it is not against new technologies. Neither am I.