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Walking the Path - Bitcoin Trend Continued.

Walking the Path - Bitcoin Trend Continued.

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In the last article, we had a look at potential outcomes for the price of Bitcoin. It should always be kept in mind that the short-term price is at the mercy of the whales, the market makers. People that trade using bots with human (for the lack of a better word) emotion at the core of the trading algorithm. The probability that the price in the short term will do the opposite of what everyone expects is higher than the price just doing what everyone thinks it will do. That is the reason I buy and hold (I am not a trader) and the best price to buy at is obviously when we are below fair value. The previous article can be viewed here and for ease of reference see the below graph dated 15 July 2021.

We were at a crossroads back then when we reached the bottom of the dip at almost exactly the same time it happened during the previous cycle. We pumped nicely after reaching the bottom and we have landed in the same situation again. The updated graph with the most recent price action is shown below. In comparison to the last cycle, the current dip was not as drastic but if we keep to the trend we are set for a good pump over the next few months until this cycle's bubble pop at the end of the year.

Again I'd like to reiterate that looking at the graph above nothing is certain. The whales can play with your emotion and they have done so to perfection this cycle. So keep in mind that we may well fall outside the expected band (to the low side) for the price but if we do it is always a very good time to buy.

Past Trend Days

For interest's sake, I thought it good to show some past graphs of how the bitcoin trend has been performing over the past few years. The past graphs with links to the previous articles are shown below.

4 February 2020 - Article Link - The BTC trend (this trend was corrected slightly down as seen in the consecutive graphs)