Hi, everyone
Today I want to talk to you about the fair price of Bitcoin and the market in General.
To begin with, I want to remind many market participants that the asset has not updated its highs for almost 3 years, and this speaks volumes. The fact is that today in the cryptocurrency market, a community has formed that moves the price to the levels that it can, no more or less.
You can artificially raise the price and in theory large holders of assets can do it, but then there is another question-how? On the one hand, we have an asset with huge potential and sometimes crazy volatility, on which you can make good money. On the other hand, we have a community that has already been established for 3 years (and it is by the way not the most active). A reasonable question arises - can a major player, even through manipulation, make money in a not very active and low-liquid market? I think that there is no, more accurately will say will earn, but not as in 2017 and sometimes this will be even harder and riskier.
The fact is that in order for Bitcoin to update its highs, today's community is not enough. In order to update the high about Bitcoin should talk the same way as in 2017. Even a major player will not be able to pump the market indefinitely, at some point it will become very expensive. Raising the price of an asset that costs $ 3000 and $ 12000 are different things. Can our community raise the price by 20K or higher without injecting new market participants? If you have been trading on the cryptocurrency market for more than 2 years, ask yourself the question, on 14k or suppose on 20K you will buy or sell? I think the answer will be obvious, during the parabolic growth of the asset, few people think about buying, there is FOMO Yes, but I am talking about rational thinking. Our community will be cautious about buying what can not be said about new market participants, who in principle do not care how much the asset costs. The only thought is "buy because it is growing." It was on these thoughts in 2017, the asset reached the level of $ 20,000 for Bitcoin. Thanks to these new market participants, our community then reached a new level, and we got a turbo boost! I am sure that among many of your friends there are those who bought Bitcoin in 2017, perhaps among my readers there are not a few of them. One question, where are they? Some remained on the market, but I am sure that 80% of those who bought and registered accounts on exchanges in 2017 have long left the market. Personally, I have 20 such acquaintances, that's for sure.
I want to say that today, even with the help of manipulators and large market participants, it is very difficult for our community to raise the price above$14,000. Our highs and lows are 14k and 3K per BTC, the profile volume clearly indicates this to us, the average fair price is around $ 6000. This is something that we can do without injecting new participants into the market. In other words, the ceiling of the money that is currently on the market is 14k. After the 14k mark, it is almost impossible to raise the price independently, the fuel will be at zero and the reserve tanks have not been brought, in the form of new market participants.
To date, there is no reaction from new market participants to the cryptocurrency market. There are 2 reasons for this, the first is that many people lost money and became disillusioned with the market. Second, the price is not interesting for investment. Yes, do not be surprised, even in the stock market where the level of traders is slightly higher than in the cryptocurrency, they buy certain securities when updating historical Highs, this is human nature. People are not interested in bitcoin until It updates the high 20K. On the chart "Price and volume of bitcoins" (unfortunately, I cannot leave the link according to TV rules)
The chart shows that historical interest in the asset arose only after it managed to update its highs. New blood and money entered the market only after this pattern. The same chart shows how much was poured into the market in 2017 and how much is on the market now, despite the growth, new money does not come, only our community works. Well, the final nail in the coffin is a query in the Google search engine,(you can also find it on the Internet without any problems) please note what a rush there was after the update of historical Highs and now, even taking into account the growth of the asset. Everything will change only when our community manages to drive the price above 20K and can we do it? I doubt it.
As for technical analysis, we are still in the triangle for BTC.
In the stock market, we have started to fall metals: Palladium, Gold, Platinum, Silver.
On the S&P500 index, we are approaching a lot of resistance and the new High may turn out to be a historical trap for bulls. This has happened more than once. BTC in the Wake of the stock market may also start to adjust in the near future, be careful.
Today I want to talk to you about the fair price of Bitcoin and the market in General.
To begin with, I want to remind many market participants that the asset has not updated its highs for almost 3 years, and this speaks volumes. The fact is that today in the cryptocurrency market, a community has formed that moves the price to the levels that it can, no more or less.
You can artificially raise the price and in theory large holders of assets can do it, but then there is another question-how? On the one hand, we have an asset with huge potential and sometimes crazy volatility, on which you can make good money. On the other hand, we have a community that has already been established for 3 years (and it is by the way not the most active). A reasonable question arises - can a major player, even through manipulation, make money in a not very active and low-liquid market? I think that there is no, more accurately will say will earn, but not as in 2017 and sometimes this will be even harder and riskier.
The fact is that in order for Bitcoin to update its highs, today's community is not enough. In order to update the high about Bitcoin should talk the same way as in 2017. Even a major player will not be able to pump the market indefinitely, at some point it will become very expensive. Raising the price of an asset that costs $ 3000 and $ 12000 are different things. Can our community raise the price by 20K or higher without injecting new market participants? If you have been trading on the cryptocurrency market for more than 2 years, ask yourself the question, on 14k or suppose on 20K you will buy or sell? I think the answer will be obvious, during the parabolic growth of the asset, few people think about buying, there is FOMO Yes, but I am talking about rational thinking. Our community will be cautious about buying what can not be said about new market participants, who in principle do not care how much the asset costs. The only thought is "buy because it is growing." It was on these thoughts in 2017, the asset reached the level of $ 20,000 for Bitcoin. Thanks to these new market participants, our community then reached a new level, and we got a turbo boost! I am sure that among many of your friends there are those who bought Bitcoin in 2017, perhaps among my readers there are not a few of them. One question, where are they? Some remained on the market, but I am sure that 80% of those who bought and registered accounts on exchanges in 2017 have long left the market. Personally, I have 20 such acquaintances, that's for sure.
I want to say that today, even with the help of manipulators and large market participants, it is very difficult for our community to raise the price above$14,000. Our highs and lows are 14k and 3K per BTC, the profile volume clearly indicates this to us, the average fair price is around $ 6000. This is something that we can do without injecting new participants into the market. In other words, the ceiling of the money that is currently on the market is 14k. After the 14k mark, it is almost impossible to raise the price independently, the fuel will be at zero and the reserve tanks have not been brought, in the form of new market participants.
To date, there is no reaction from new market participants to the cryptocurrency market. There are 2 reasons for this, the first is that many people lost money and became disillusioned with the market. Second, the price is not interesting for investment. Yes, do not be surprised, even in the stock market where the level of traders is slightly higher than in the cryptocurrency, they buy certain securities when updating historical Highs, this is human nature. People are not interested in bitcoin until It updates the high 20K. On the chart "Price and volume of bitcoins" (unfortunately, I cannot leave the link according to TV rules)
The chart shows that historical interest in the asset arose only after it managed to update its highs. New blood and money entered the market only after this pattern. The same chart shows how much was poured into the market in 2017 and how much is on the market now, despite the growth, new money does not come, only our community works. Well, the final nail in the coffin is a query in the Google search engine,(you can also find it on the Internet without any problems) please note what a rush there was after the update of historical Highs and now, even taking into account the growth of the asset. Everything will change only when our community manages to drive the price above 20K and can we do it? I doubt it.
As for technical analysis, we are still in the triangle for BTC.
