Bitcoin is down again

in hive-183397 •  2 months ago 

Assalamu Alaikum


How are you? By Allah's grace, I'm doing very well. Currently, the crypto market is getting worse. And today, Bitcoin has dropped to $81,000, which no one could have imagined. The prices of other coins in the market, including Bitcoin, are currently so low, but they will not remain so low forever. But there will be another pump in the price of Bitcoin. If you can currently invest in those coins that usually pump along with Bitcoin or pump a lot more along with the bull market, then hopefully you will be able to make a good profit in a very short time, so today we will discuss whether Bitcoin will drop more or pump.

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If you come to the daily chart of Bitcoin, you can see that the price of Bitcoin has been dropping every day for the past five or six days and we saw such a terrible level down once in January and immediately after this down you could see how much the market pumped. This time too, when this down ends or when the market starts pumping, the price of Bitcoin will get support from a good place and pump to the January level or you can say that after that there is a very high chance of a bullrun starting.

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Now many people are thinking that the bullrun will not come again or many people are thinking that nothing happens because of the bullrun, the market is now completely in bear season, in their case I would say that you just look at CZ's tweets, he is constantly tweeting this kind of tweet where he is trying to convince people to be afraid, that is, Bitcoin will not die or the down that we are currently seeing will not last forever. Because such downs have come in Bitcoin countless times and later Bitcoin pumped again. The down that we are currently seeing, if we have dollars at this time and we can buy good coins, then we can say that this is a golden opportunity for us. Anyway, you can see here that Bitcoin had a very strong support level but this support level could not hold, as a result of which the price of Bitcoin broke the support level and went down. Here is the latest support level, which is 85 thousand dollars. And it broke today and went down to 81 thousand dollars. After crossing the support level of 85 thousand dollars, it is expected to fall below 80 thousand. However, even if Bitcoin dumps further, the reason why Altcoins will not dump more is because Altcoins have already dumped a lot. Altcoins have dropped a lot so far, and the price of Altcoins has been stuck at that price in the last one year. For this reason, I hope that even if the price of Bitcoin drops from here, it will not drop in the way that Altcoins have dropped to terrible levels before. But yes, the prices will go down a little bit.

Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.

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It is an informative post of Bitcoin is down again Shared.