Welcome back,
In today's blog we will have a look at bitcoin and the rest of the crypto market. At the time of writing this blog bitcoin already broke the 53k mark so that is itself a resistance breaking for bitcoin, anyone wants to guess what was the time period for this resistance?
Well it's almost 2 years and three months when the bitcoin was there at 53000 dollars in December 2021. Things are getting good for crypto lovers and hey bitcoin market cap is above $1 trillion but don't be too excited, the dump can still come and I believe it will come.
Let us have a look at the tokenomics,
So, 1 trillion and 50 billion dollars is the money that is floating in bitcoin right now. It is just amazing and I wonder how come people still call it a fake money just because of the volatile nature of bitcoin and other crypto currencies.
Even the stock market also goes through the ups and downs on different time period. It is just that bitcoin can be called more volatile compared to stocks but with recently approval of ETF's we may see bitcoin performing similar in next 5-10 years.
Just enjoy this time as we are the early adopters, I wish hive also shows it's move soon. I am holding them both in liquid as well as power up form and that is actually one of my highest holding from the crypto market, I will love to see it breaking it's all time high.
Hive actually went above 40 cents or we can say hive was above 40 cents last year 2023 in the month of may and since then hive is unable to cross that mark again so it is almost a one year resistance for hive which it must break to reach 0.5-0.55 dollars.
I think we will see hive like this till the halving and the before the start of major run. It is still in accumulation zone in my opinion so in case you don't have this just DCA with hive and hope for the best.
Thank you and happy trading everyone.