Bitcoin seems to be having a good support at $64k as its price is not moving much. In the last 24 hours its moving in between $64200 to $64600 thats a varry narrow gap between the low and high price for the day. With the current moves it is making it looks hard to determine its clear direction.
At one point it looks like it is going to dip and the other point it feels that its going to pump from its current value. The current trading price of Bitcoin is boring definitely because there isn't much gap between high and low price. It would be interesting to see how does it play in the next 24 hours.
It has already restest $63k recently and came back above $64k and is still holding this level. Bitcoin is having a nice support at $64k right now but if it gets broken then we can expect another leg down towards $62k and worst could be $60k , it can happen only if Bitcoin loses support at $64k. In other scenario if it breaks resistance at $65k then we can see it going towards $70k within next 3 days.
Altcoins are affecting badly by the Bitcoin moves. Bitcoin seems to be playing with altcoins. Bitcoin recovers each time its value drops while altcoins merely recover half of the dropped price. Its just not good for the altcoins.
We are still in the bull market as said by many crypto experts, they believe that Bitcoin will get to $80k anytime from now and that would be the time for altcoin run. This may or may not be true at current but one thing is clear that Bitcoin is yet to go long way.
The current price of Bitcoin is very cheap according to the rarity. Look at the total supply which is fixed, thats 21 million and there will never be more of it. Some of these are already lost as people forget the keys to their wallets.
In original we have less than 21 million Bitcoin which makes it more valuable and rare. People who believe in Bitcoin future will never sell it this cheap. The world population is way bigger and there is only a fraction of it into crypto yet. When more people will involve in crypto and hold bitcoin then it will get more difficult to get Bitcoin.
You can have the stats from the history and compare it with current stats. Simply look at the Bitcoin price 10 years ago and see what is its value today. You will get the answer yourself. People who ignores bitcoin in those times are having regret now.
I am one of the person who used to collect bitcoin through faucets. That time bitcoin was very cheap and easy to earn. I also never thought at that time that bitcoin will be this valuable. Well, its still time for us to own Bitcoin as its still not late.
Thats it for today. Thanks for reading. What do you think about my today's topic? Let me know your thoughts in comment section. In the end i would like to Wish you and your family a happy day ahead. Stay Blessed.
Motivation Dose
Get out of your comfort zone and fight the troubles and hurdles that come your way to success. Success awaits you. Life is beautiful ، live it to the fullest. Dont be hopeless. Stand strong in the ups and downs of life as its part of life. There is always a light behind every dark side.
About Author
@coolguy222 is a crypto trader and content creator on hive blockchain. He also runs a small business of Mobile accessories and Wrist watches. He loves to make new friends.
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