Bitcoin seems to be getting even worse

[Setho]

The price of bitcoin is not just going to be going up all the time and I just hope that people are going to understand it and try to know when to take profit at all times.

 

[Immilash]

The Bitcoin and by extension cryptocurrencies market have been bearish these days.
This is coupled with the fact that the dollar has demonstrated it strengths in the past few months.
It is not wise to invest at the moment.

That's true, not only cryptocurrency but all the market are market are looking bearish, I think that's also because the usdx is rising, what do you think?

 

[Genie01]

This bearishness that came as a surprise is actually disturbing to several investors.
It begs the question is it ready for reversal? Is it the right time to actually begin investment into this coin?

 

[Imran_Noori]

This current deep is one of the worst and longest since i joined the world of crypto currency. And most of the countries placing bans on crypto is not actually helping crypto right now. Anyways with time things would be sorted out.

This current deep is one of the worst and longest since i joined the world of crypto currency. And most of the countries placing bans on crypto is not actually helping crypto right now. Anyways with time things would be sorted out.

For the short term Bitcoin will have some dumps but for the long term everyone is bullish on bitcoin and crypto, patience is very important in this market, just wait the profits will come.

 

[GoldenLady]

The price of bitcoin is not just going to be going up all the time and I just hope that people are going to understand it and try to know when to take profit at all times.

It's not easy to take profits though. In this bear market, taking profits is the best thing one can do. Bitcoin can move 5% up and then 10% down. This is even worse for altcoins. Most of them are more than 80% down from all time highs.

 

[Lynaia]

I've been telling many of my friends before that i won't be surprise if bitcoin doesn't go pass its highest value that will know. Many predicted that bitcoin will soon reach $100,000 but i think it has reach his limit then and won't go pass that again

 

[UsmanAmoyo]

That's true, not only cryptocurrency but all the market are market are looking bearish, I think that's also because the usdx is rising, what do you think?

The strength of the dollar is attributed to the corresponding increase in interest rates by the feds.
Although recently, it seemed as though there wasn't any increase.
This might be signaling reversal of the dollar.

 

[Immilash]

The strength of the dollar is attributed to the corresponding increase in interest rates by the feds.
Although recently, it seemed as though there wasn't any increase.
This might be signaling reversal of the dollar.

Yes, but for now the dollar is supper bullish, that means most of the currencies pairs will be going down, I believe you'll understand what I mean if you are trading forex.

 

[UsmanAmoyo]

Yes, but for now the dollar is supper bullish, that means most of the currencies pairs will be going down, I believe you'll understand what I mean if you are trading forex.

Yeah, risk off phenomena we call it.
Anytime the dollar is bullish indices, commodities and cryptocurrencies seems to decline.
They are inversely correlated.

 

[Immilash]

Yeah, risk off phenomena we call it.
Anytime the dollar is bullish indices, commodities and cryptocurrencies seems to decline.
They are inversely correlated.

That's very true, the us dollar index is inversely correlated a lot of things in the financial market, if you are a trader you'll understand what I mean, most currency pairs respect the US dollar.

 

[UsmanAmoyo]

That's very true, the us dollar index is inversely correlated a lot of things in the financial market, if you are a trader you'll understand what I mean, most currency pairs respect the US dollar.

The currency markets, the bond market, the equity markets, and the commodity markets are all correlated to the us dollar.
The nature of their correlation might differ but the truth is they all respect the dollar most times.

 

[Immilash]

The currency markets, the bond market, the equity markets, and the commodity markets are all correlated to the us dollar.
The nature of their correlation might differ but the truth is they all respect the dollar most times.

That's just it, all if those financial market that you've made mentioned of are inversely corolated with the us dollar, we have a lot of things in the financial market that moves in the favour of the dollar.

 

[UsmanAmoyo]

That's just it, all if those financial market that you've made mentioned of are inversely corolated with the us dollar, we have a lot of things in the financial market that moves in the favour of the dollar.

I admire the depth of your knowledge, have you been Trading for long.
I am fascinated because we are discussing highly advanced Trading concepts.

 

[ghxstvecna]

Sell all your bitcoins, the price crash becomes even more drastic as crypto owners lose hundreds of billions. After hitting a record high of almost $68,000 in November, the digital currency is now worth under $35,000.

 

[Immilash]

I admire the depth of your knowledge, have you been Trading for long.
I am fascinated because we are discussing highly advanced Trading concepts.

Trading is really a good way to earn money but as we all know it's very risky, you need to have good experience on a lot of things before you can earn money.

 

[UsmanAmoyo]

Trading is really a good way to earn money but as we all know it's very risky, you need to have good experience on a lot of things before you can earn money.

Definitely, for how long have you been into this Trading industry.
I admire your level of experience ,
How did you reached this your current level?

 

[Floura]

Trading is really a good way to earn money but as we all know it's very risky, you need to have good experience on a lot of things before you can earn money.

That's absolutely true, trading is a good way to earn money and also a risky way, if you don't know how to trade the market you'll definitely hurt yourself a lot, just like others do.

 

[ghxstvecna]

In prior stock market corrections,bitcoin plummeted while gold served as an effective hedge.

 

[Sincerem]

Right now Bitcoin is worth around $34,000 for 1 bitcoin. It seems to have stayed around this price point for months now. It hasn't gone up much and it seems to be going down more than it is going up. Do you think Bitcoin can rebound? Or will it stay put for a while longer or even go down more?

We were predicting that the price of bitcoins will reach 100,000 dollars before the end of the year , but this was not possible even till this year and has even drop from the $34,000 to 16,000 dollars which is it current price now. A lot of investors are saying that the price might continue to drop further.

 

[Prince]

Crypto markets have been slammed by multiple crises throughout 2022, not to mention funding stresses, thanks to rising interest rates and a broader market downturn that has seen investors move away from riskier assets.