Short Description: BTC has fall from the ATH of 108K. Now there is a panic in the market which is leading to the cascaded Sell-Off. The possible reason for the sell off has been called the FED’s Hawkish Statement. In this post we will be sharing opinion on the BTC’s upcoming price movement.
Main Content:
What seems to be BTC move in coming days?
According to my opinion and as per the chart analysis, BTC seems to be up for the next ATH.
Why BTC fell?
Due to the FED’s Hawkish statement the market fell down and the serious comment was “We’re not allowed to own Bitcoin. The Federal Reserve Act says what we can own, and we’re not looking for a law change,” Powell said. “That’s the kind of thing for Congress to consider, but we are not looking for a law change at the Fed.”
This led to the development of feeling in the Market that there will be an institutional sell-off. In the meantime the whales were looking for the profit booking time. The institutions were looking for a good moment to buy.
One among it started selling and then it was followed by OLD Whales. Now this made the Retail traders and New holders to panic and led to more Sell-Off.
Big Mistake | Retail traders are committing mistake?
According to my opinion, I feel that definitely the Retail traders are committing mistake. BitCoin is here to stay and this FUD at retail trader’s end will let them loose their worthy assets. Imagine a small percentage is owned by the institutions and the countries.
Countries and Institutions are talking about maintaining and increasing a reserve and we the retail traders are selling it off out of panic.
POINTER
Few years back people told BTC is worth nothing and now its 100K. The one who told that don’t buy it hoarded it in silence. History needs to be learned on the concept of money. Money is the concept of value delivery. From shells to metal and metal to paper. It all changed and we are still evolving.
My opinion on this says, Digital Currency will be the future. Rest all depends on the person who is investing or trading. Never forget to Do Your Own Research before acting-investing-trading.
Summary: FED’s comments was one of the major reason for fall of BTC since last 24hrs from 12/18/2024. Taking it as an opportunity to DCA could be better. BTC seems to be headed for an ATH in coming days. HODL is the word to use and practice.
