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

[Ononivami]

Overtime, the bitcoin is known for driving over the difficult terrain. The terrains for working for a strugling for a very long period of time , but it has the ability to surge on the long term basis.

 

[zelalem]

It will be some time before Bitcoin exceeds $ 40,000. The reason is that analysts who confirmed the rise in Bitcoin said it would drop by 50% in a few weeks before bouncing back. Therefore, we need to keep our fingers crossed and act with care not to lose Bitcoin or other altcoins in cryptocurrency exchanges.

 

[Lens]

The bitas gone past the $40 market that was stated in the thread. The news around bitcoin and the technical analysis showed that bitcoin will surge higher than what it is now.

 

[Setho]

If you look at it from the historical perspective then you can be able to understand that that has been a very difficult zone for bitcoin whenever it enters.

 

[Lens]

Based on the technical analysis the $40000 mark is now the support zone of the bitcoin. This means that the bitcoin cannot go below 40000 dollars in anytime soon.

It is true that a 40,000 dollars Mark is now acting as the support zone for bitcoin. It has become very difficult for it to break support level and it is the best place to take a trade now.

 

[Ononivami]

It is very correct to say that the bitcoin has succeeded in making the $40000 mark the support zone and that is why the zone will be very difficult to break because it has test the zone several times.

 

[Setho]

This is definitely the best time for you to just sit on your hands and wait for her price action is going to turn out to be because this particular zone is a very difficult one.

 

[Smiles20]

The best thing to do in this kind of market is to just convert every money that you are having into stable coins and then wait for any price action that you can trust.

 

[Ononivami]

I do not think that the bitcoin is struggling around a $40000 much anymore it has survived that region and has used a region as a support zone and it is now bullish in an upward trend.

 

[Sotherefore]

I do not think that the bitcoin is struggling around a $40000 much anymore it has survived that region and has used a region as a support zone and it is now bullish in an upward trend.

I don't know the current price of bitcoins but I'm very sure bitcoins is not even up to 40,000 dollars at at now because all cryptocurrency has dropped to a ridiculously low price. Me sef I don't understand it again.

 

[Sincerem]

Currently bitcoins is struggling between 30 and thirty-five thousand dollars. Some experts are predicting it to go lower while some are predicting it to go higher from there as there is a strong resistance st 29 thousands. For now for the movement of bitcoins is completely unpredictable.

 

[Bookwormlux]

It is normal for us to see Bitcoin struggling. We have to bear in mind that the market was almost like it is now as at this time last year. Just exercise patience and you'll make massive profits.

 

[greenie]

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.

 

[Bigron]

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 think ever since the Russia- Ukraine war, there has been a bear market so I am not surprised at its decrease. However, I would advise you to keep hold of your bitcoin because in time, I am sure the market will bounce back

 

[tyrim88]

I think ever since the Russia- Ukraine war, there has been a bear market so I am not surprised at its decrease. However, I would advise you to keep hold of your bitcoin because in time, I am sure the market will bounce back

I am not surprised at what is actually happening in the cryptocurrency market,but there are other factors that has contributed to the bearish run of the values of the most cryptocurrency coin,like forces of demand and supply.

 

[Setho]

The high volatility of bitcoin is what is making a lot of people not to trust it as a coin because it was just a few months ago that bitcoin was trading at this amount but it is lost more than 50% already.

 

[Bigron]

I am not surprised at what is actually happening in the cryptocurrency market,but there are other factors that has contributed to the bearish run of the values of the most cryptocurrency coin,like forces of demand and supply.

I agree with you. Demand and supply has always determined the rise and fall of cryptocurrency prices, so this is nothing new. With that being said, I do think that the war has had an effect too.

 

[Smiles20]

I believe that a lot of people around going to understand that bitcoin is all about blockchain technology and not just about putting $10 and expecting to catch up 202 days later.

 

[tyrim88]

I agree with you. Demand and supply has always determined the rise and fall of cryptocurrency prices, so this is nothing new. With that being said, I do think that the war has had an effect too.

That is definitely true,because one would have thaught that the war would have great effect on cryptocurency trading,but that is not the case,whale investors are some of the other factors that could affect the price of crypto.

 

[Bigron]

That is definitely true,because one would have thaught that the war would have great effect on cryptocurency trading,but that is not the case,whale investors are some of the other factors that could affect the price of crypto.

This is a valid point. Whale investors who are quite influential in the cryptocurrency industry determine the price rises and falls of crypto per their actions and decisions they take.