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We were so close to $69,420 USD/BTC once. Now, as I write 1 BTC is only $23,732 USD. The bulls seemed to have arrived the last few days, and since I wrote suggesting BTC could be heating up. The times we are living in with record inflation - in part why Satoshi created BTC in the first place.
So where will BTC go from here? No one knows.
All we can do is take our best guess
Call me dirty, but sometimes that means being based in reality, where if after a week, 20% gains are realized, without any leverage, perhaps a little cool down is expected and maybe the price corrects, even if a little.
Then again, it is high summer in the Northern hemisphere and people are making money out there, despite the high cost of things.
And certainly, I am not the only one remembering how high BTC once climbed and just a half year ago.
Below is the one-month chart for Bitcoin. Exactly one month ago the price opened at $20,113 USD/BTC. Some of the lower ranges were touching about $18.8-19.5K USD/BTC orso.
Here is some data from the Fear and Greed index for Bitcoin, most recent yesterday, Tuesday evening. I have written some prior articles on what this index is and how it measures sentiment in the market if you care to go back and check. Interestingly, I have not checked this index in a while and was expecting the index to be higher considering the run BTC has been on.
Below is a chart for the Fear and Green Index for Bitcoin - looks pretty steady, we will see what tonight holds for it after these most recent gains.
So, do you like BTC still?
Any price predictions or strategies to share?
Not investment advice friends, choose the path that is best for you.
