Bitcoin seems to be struggling to cross the 40k mark again

Good-Person

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Well, there was a time when Bitcoin was struggling to get pass through the 40K barrier, but now it is struggling to cross the 50K barrier as of writing this right now. I think Bitcoin has now become range-bound to some extent just like other coins.
 

Toyoabasi

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Looking at the market for bitcoin, it has been continuously going up over the last month, and I believe that the rate of growth in the price of bitcoin almost shows that of an exponential graph when one looks at the curve over the last six months. However, since breaking the 40k mark, bitcoin has been consistently around the 35k region. What do you think is the reason for bitcoin being unable to break the 40k mark once again?

Are investors being more cautious now, or are we perhaps seeing the start of a possible bear market that can arise in bitcoin?
Personally, I would say it is dependent on the demand on bitcoin. Perhaps investors are not calling in as expected. With the volatility of bitcoin, it is difficult to tell if it will still fall or rise again.
 
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Sotherefore

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Few months ago the price of bitcoins was up by 60000 dollars but now it has dropped back to $40000, for now we are not very sure of the movement of bitcoins if it's going up or down that is why it is completely unpredictable.. let's observe to see it's next movement.
 

BrolySSJ

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Personally, I would say it is dependent on the demand on bitcoin. Perhaps investors are not calling in as expected. With the volatility of bitcoin, it is difficult to tell if it will still fall or rise again.
There is a lot of risk when it comes to investments that are made in bitcoin and that is why there are so many people that are unsure about whether to take that step into crypto or not.
 

kayode10

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Bitcoin has gone far more than $40000 Mark. One thing is that majority of the market analyst are saying that bitcoin is likely to cross over 18000 dollars per unit before the end of the fourth quarter of this year. This shows that someone can still make money with bitcoin by investing in it now.
 

BrolySSJ

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Bitcoin has gone far more than $40000 Mark. One thing is that majority of the market analyst are saying that bitcoin is likely to cross over 18000 dollars per unit before the end of the fourth quarter of this year. This shows that someone can still make money with bitcoin by investing in it now.
There is a lot of people that do think that bitcoin is going to have a massive drop in price and to be honest i think that this will happen as well because there is a lot of fear around this coin now.
 

kayode10

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There is a lot of people that do think that bitcoin is going to have a massive drop in price and to be honest i think that this will happen as well because there is a lot of fear around this coin now.
There will be always feel especially among the people who he invest huge amount of money into the Bitcoin. The same thing happened last year and bitcoin took everybody to the cleaner and surpass the highest record.
 

BrolySSJ

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There will be always feel especially among the people who he invest huge amount of money into the Bitcoin. The same thing happened last year and bitcoin took everybody to the cleaner and surpass the highest record.
The thing with bitcoin is that we can never say for sure where the price is going to go and it can surpass out expectations each time because there is a lot o uncertainty to how people will react to it.
 

Ononivami

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In the last 24hr, bitcoin made a surprising rebounds by breaking the $40k resistance level. There could be a full-fledged uptrend based on analysis. Bitcoin always exhibit price increases every January.
 

BrolySSJ

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In the last 24hr, bitcoin made a surprising rebounds by breaking the $40k resistance level. There could be a full-fledged uptrend based on analysis. Bitcoin always exhibit price increases every January.
The price of bitcoin was bound to recover at some point in the course of this month given that there are a lot of companies that are making investments into it at the moment.
 

Ononivami

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The price of bitcoin was bound to recover at some point in the course of this month given that there are a lot of companies that are making investments into it at the moment.
That's a good one! The bitcoin price will increase based on the money invested on it by institutions. The institutional monies will drive the price of bitcoin up significantly. The hodlers would gain on the long run.
 

BrolySSJ

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That's a good one! The bitcoin price will increase based on the money invested on it by institutions. The institutional monies will drive the price of bitcoin up significantly. The hodlers would gain on the long run.
Also what is very important as well is that there is a lot of people that are also using the companies confidence in these coins in order to make their investment as well and that is very important for demand.
 

Grandeur

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Looking at the market for bitcoin, it has been continuously going up over the last month, and I believe that the rate of growth in the price of bitcoin almost shows that of an exponential graph when one looks at the curve over the last six months. However, since breaking the 40k mark, bitcoin has been consistently around the 35k region. What do you think is the reason for bitcoin being unable to break the 40k mark once again?

Are investors being more cautious now, or are we perhaps seeing the start of a possible bear market that can arise in bitcoin?
I guess history is repeating itself as bitcoin is finding it difficult to break the resistance of $48-$49k since it crossed the 50 k mark it has just been struggling around $42-$45
 
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