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

[BrolySSJ]

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?

 

[Ralphjoe]

Well I feel the investors are being more cautious and at the same time, Bitcoin is gearing up for a bullish run that will last throughout the year, according to predictions, Bitcoin should be somewhere around $50,000 by now so we should be ready for Bitcoin bullish movement any moment from now.

 

[Nurudeen]

It will take up some time before Bitcoin will be able to pass the $40,000 mark. Reason is that one analyst who confirmed the surge of Bitcoin said it will fall by 50% in some weeks before it will rally back. So we just need to keep our fingers crossed and trade with caution so as not to lose in the crypto currency exchange Business with Bitcoin and other altcoin

 

[BrolySSJ]

It will take up some time before Bitcoin will be able to pass the $40,000 mark. Reason is that one analyst who confirmed the surge of Bitcoin said it will fall by 50% in some weeks before it will rally back. So we just need to keep our fingers crossed and trade with caution so as not to lose in the crypto currency exchange Business with Bitcoin and other altcoin

A 50% drop is really massive. But it does make sense it is going to be a bit of a bear market before the bull market continues. All coins generally have a certain degree of pull back before the increase in value even more. The good thing is that this expected decline in the price will provide ample opportunity to increase your investment.

 

[Bilal0087]

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 was expecting that Bitcoin will cross $50,000 at the end of this month but unfortunately it is still around $35,000. I think there are more selling pressure, when the buying pressure will increase its price will Bounce up to $50,000

 

[Kayzzy3]

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?

Yes it is, bit generally BTC has done well, this behavior is normal in the market and this is not the first time, when BTC's all time high hit $10,000, it went bearish.

What market observers are looking out for is BTC falling below a certain basic point that will be below $20,000, although I don't see that happening anytime soon, if things remain the way it is, investing in BTC now will surely pay off later.

 

[gammarays]

You should know the nature of cryptos. Whenever a crypto coin is on a hike in price,it'll experience a stabilising period before it grows again or reduces. It's called the correction period. Popular crypto tokens like Bitcoin and Ethereum faced the same issue. Even Zen rose to $30 before returning to $20. It's a good opportunity to buy and hold because it'll rally again and increase in value.

 

[Setfragil]

That has always been the behaviour of bitcoin because of it volatility nature. Bitcoin had a successful run early this year but it is currently not doing fine, caution should be taken at anytime we want to invest in bitcoin.

 

[Nomad]

After falling to $32K from $64K, bitcoin was playing at $35-$37 K for a long time but in the last 24 hours the price has gained value and now bitcoin has reached $40K.

 

[BrolySSJ]

After falling to $32K from $64K, bitcoin was playing at $35-$37 K for a long time but in the last 24 hours the price has gained value and now bitcoin has reached $40K.

It is good to see that there has been a recovery of bitcoin prices, and this in my opinion is due to the fact that there was a tweet by elon musk showing that he is willing to accept bitcoin at tesla again.

 

[mcjerry]

With someone's thread that I read on how bitcoin price has been increasing day by day. I think the price of bitcoin is going to $45,000 soon.
I think this year is the year if crypto currency. As the price are moving up and moving down slightly and later gain it's strength and move back up.

 

[Kunkun]

Well this has been the case for a while now, it's still hovering below the 40k mark but with time I see that changing, it has once crossed the 60k mark this year it could still as well do that and even better

 

[Nomad]

It is good to see that there has been a recovery of bitcoin prices, and this in my opinion is due to the fact that there was a tweet by elon musk showing that he is willing to accept bitcoin at tesla again.

Another reason for bitcoin going briefly up was El Salvador accepting bitcoin. Positive news like these can pull up the price but the hiked price does not last long.

 

[Setfragil]

Another reason for bitcoin going briefly up was El Salvador accepting bitcoin. Positive news like these can pull up the price but the hiked price does not last long.

You are very correct. When the government of El Salvador promises to adopt bitcoin as their country currency, it went up to $40,000 some days ago but when the world bank refuses their proposal it dropped back to it normal price.

 

[Josemendez]

Yeah. It is quite observable and we can only hope that this comes to reality in coming days. Bitcoin has dropped for a long time now. We want to see a bullish run

 

[akinlolu99]

Taking a gander at the market for bitcoin, it has been consistently going up in the course of the last month, and I accept that the pace of development in the cost of bitcoin nearly shows that of a remarkable chart when one glances at the bend throughout the most recent a half year. Notwithstanding, since breaking the 40k imprint, bitcoin has been reliably around the 35k area. What do you believe is the justification bitcoin being not able to break the 40k imprint indeed?

Are financial backers being more wary now, or would we say we are maybe seeing the beginning of a potential bear market that can emerge in bitcoin?

 

[Nomad]

Bitcoin has again gone down and the price is at $35. When bitcoin goes down a lot of crypto currencies also go done. Bitcoin price fluctuations influence a lot of currencies.

 

[Jlife]

At the current price of bitcoins now it is also struggling to pass the $40,000 and if this is achieve the price of bitcoins can go as high as 50,000 dollars,we don't really know the reason for the serious decline in the price of all cryptocurrency.

 

[FreshKaz11]

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?

In crypto currency world nothing is impossible but we all have to trade and invest wis my if we don't want to say any story that will touch the heart at the end of the investment.

 

[Shigobad2020]

I think bitcoin increased lately with nine percent to reach $36,000 , bitcoin has been struggling going up and down lately, but I believe it can reach $50,000 be for the end of the year.