Bitcoin in early 2021 was in good form by continuing to break ATH's latest record but Bitcoin's movements are now starting to plunge. Bitcoin price touched $40,000 per BTC last week on Coinmarketcap , but after that it was in correction trend and briefly plunged into $34,000 per BTC. Nevertheless, the price of Bitcoin has now started to rise again on Saturday Jan, 16th the price of Bitcoin was already at the level of $37,432 per BTC.
Bitcoin's volatile price movements are still in reasonable condition, the increase in parabolic that occurred since the middle of last year would be better if it could be maintained risks. We can looking from 2017 ago, when there was a parabolic increase and accompanied by correction of 20-30% is actually quite reasonable, beyond the correction, bitcoin's recent positive trend is inseparable from the liquidity currently flooding the market.
Bitcoin's sharply rising price is inseparable from massive purchases made by giant institutional investors such as Microstrategy and PayPal. JP Morgan also upgradin bitcoin outlook which will encourage many of the institutions involved to make bitcoin its transaction tool. Bitcoin's positive trend is a breath of fresh air for other cryptocurrencies as it will be splashed out, although its rise is likely to be too late to follow BTC. This is because the institution trusts only a few major crypto assets as investment objectives like Bitcoin and Ethereum. In the current condition, if investors can tolerate the risk of an increase followed by correction of 20-30%, then dollar cost averaging strategy can be an option. However, if you have good skills in performing technical analysis, it can be done to assess whether Bitcoin has enough correction and buy at the right moment.
In my personal opinion as Crypto Enthusiast price Bitcoin has a chance to reach $50,000 per BTC in the near future because at the beginning of the year Bitcoin has high volatility, so the possibility of overshot uptrend can occur in Q1 or Q2 of 2021 soon. e High record seeing as bitcoin's performance continues to increase steadily. I think investing Bitcoin is not too late and can be profitable, but once again this is just my personal opinion as a crypto enthusiast, I'm not an expert trader or professional financial advisor.
Do With Your Own Research and Do With Your Own Risk.
Well, let's see whats next on Bitcoin Stage, will it increase as predicted or vice versa? What do you think of this? i also want to know about your opinion is it true this is just a correction or will there be a bitcoin bubble?
Image Resource :
Bitcoin, JP Morgan and Trading View Chart
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