In cryptocurrencies It hasn’t even been 24 hours since we shared a 5-page historical summary on the relativity of price. Today, the Bitcoin price is now at $71 thousand and investors are smiling as the price has increased from $60 thousand. Crypto stocks follow as the Dow rises by a thousand points.
Cryptocurrency Rise
Some things happen in plain sight. For example, like today’s rise. While US futures were rising, we mentioned hours ago that cryptocurrencies could continue their rise with the opening of stock markets. We were talking about the relativity of price about 22 hours ago.
The levels that made people cry yesterday are making investors smile today as Bitcoin is back. Altcoins are in the green, and altcoins that had double-digit losses at this time yesterday are now experiencing gains in excess of 5%. Is it all over? No. Have the damages been compensated? No.
But cryptocurrencies of BTC For now, it has escaped a new weekly series of declines exceeding 50%, falling below $60,000. SOL Coin is about to reclaim the key $88 threshold. DOGE is above $0.1 and XRP Coin He set his sights on $1.63.
Is It All Over?
We will see the market take shape depending on whether Bitcoin can make the daily close above $69 thousand. On August 5, 2024, we had a weekly candle similar to today. You see this below. Then, after a few weeks of dull movements, Bitcoin skyrocketed. Because the election was approaching. Well? Well of cryptocurrencies He had a story for the rise.
In order to say that the decline is over, Bitcoin must lose at least this week over 69 thousand dollars and the reasons that caused the decline in the coming weeks must be eliminated and a new story must be written for cryptocurrencies. Is this possible? Time will tell, but it’s difficult. Generally, cryptocurrencies fall for longer periods of time after experiencing strong rises, such as in the past 2 years.
Bitcoin If the bottom of this cycle is at the ATH level of the previous cycle and the price volumes above 70 thousand dollars do not increase due to resales, we can say that the worst days are behind us. Instead of the boring movements of the past 3 months, experienced investors prefer declines like yesterday. Because the breakout occurs, cleaning begins and the markets relax. Then, it runs to the levels it needs to reach under that day’s conditions.
The Supreme Court tariff decision on February 20 could open the door to a bigger bottom. A possible attack on Iran could also do this. Or the rekindling of the AI bubble debate. There can be dozens of reasons here. These are all things that could pave the way for a continuation of the decline. cryptocurrencies That’s the logic of the high risk/reward thing. Cryptocurrencies move with high leverage and overreact to events, which makes investors who love risk and can adjust it correctly love it.
Today’s investor profile is not the members of the world that Nakatomo dreamed of. In other words, Bitcoin will not change the world, but it will satisfy adrenaline-addict investors for a while longer.
