Bitcoin price did not pump the way it was expected before the recent event of its Halving which took place on 19 april , 2024. There could be various reasons for this and one of the most possible scenario could be the whales keeping down Bitcoin price on purpose.
I am not an expert but my little experience says that whales are playing there game . They were tricking the holders. There are weak hands always which gets tricked by the whales easily. Some people sell in fear as they lack confidence.
Halving is passes already and now we are seeing some gains in price of Bitcoin and other crypto. This clearly shows that whales played the game and they bought cheap bitcoin . Now they are pumping it as they have filled their bags.
We saw that on halving days bitcoin was in red and was trading around $60k which was supposed to pump higher towards $100k. Many of us were expecting these stats which were totally proven wrong but that did not mean that Bitcoin will not pump to that level.
I have already stated the reason for what did happen to Bitcoin. Bitcoin is now struggling back towards $70k which is possible to hit the target within next week. Maybe we could see it crossing $70k within this week , in worst scenario it will not take more than seven days.
If you are a newbie then you should research well and learn about the tricks that whales often use to move the markets. This is something which could help you to control your emotions when panic selling during random pull backs.
Knowledge is power but it does not mean that you will know direction of the market precisely. Guessing the market trend is possible but the outcomes may differ. You read the charts and draw patterns and then decide the market direction which could 100% go wrong as it is impossible to know the market moves.
You can guess but cannot predict 100% true, there will always be surprises for you even if you are a boss in trading cryptocurrency . Thats the nature of cryptocurrency. Thats how cryptocurrency markets works.
After making bottom of $59k Bitcoin is now trading at $66k. When it dropped to $59k people were saying that its going back to $30k but that proved wrong as it recovered back to $66k. Thats not the first time we heard people saying this. It has happened many times in the past whenever bitcoin goes for the correction.
Just like Ups and downs are part of life its also the part of crypto market, what goes up also goes down and vice versa. Bitcoin still has a lot room to grow. We should keep in mind that crypto is risky and it should be managed accordingly. Invest only what you can afford to lose.
Thats it for today. Thanks for reading. What do you think about my today's topic? Let me know your thoughts in comment section. In the end i would like to Wish you and your family a happy day ahead. Stay Blessed.
Motivation Dose
Get out of your comfort zone and fight the troubles and hurdles that come your way to success. Success awaits you. Life is beautiful ، live it to the fullest. Dont be hopeless. Stand strong in the ups and downs of life as its part of life. There is always a light behind every dark side.
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