The crypto market hand in hand with BTC surprises again.
Greetings to all readers of this great platform, especially to those who make an active life within the #ProjectHOPE community, in the present opportunity I want to talk about what happened today in the crypto market, specifically in the behavior of BTC and the great rise in its market value, which has managed to recover its zone above 20k in the value of the token, even surpassing 21k and thereby confirming what I commented a couple of days ago.
 Screenshot taken at: Binance |
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A couple of days ago when the price of BTC fell below 19k in the market, I commented that we could be facing 2 possible scenarios but that, personally I was inclined to the second of them which was the sales of some whales in order to lower the price a little and thus achieve capitalize either resources or buy more BTC in the market, selling over 20k and buying below 19k and with this action generating a lot of resources.
Today seems to confirm that theory, in less time than expected the market is able to recover in a great way, entering a large injection of liquidity, plus these last days the market volume has been above the average comprising the BTC, which indicates a large number of existing operations in the market, which are helping to improve the price of BTC and thus the market in general, as we can currently see how the whole market is in green.
The good news ends up being that, the BTC has managed to recover the support it had for a long time in the 20k even a little above it and having a large increase in volume and liquidity, the market can get to rise much more even more, taking into consideration that confidence and operations increase daily, we must be very attentive to what the market can generate in the coming days as it can be very good indeed, thank you very much for reading my publication.
Hello dear @chucho27, the fall of the bitcoin price a few days ago was surprising and very fast, today the market recovered the lost value quickly and generates confidence, but we must be cautious about the upcoming movements and how they influence the rest of the tokens.
So long, have a great week.
Hello friend José.
This increase had a positive influence on the market, it had an effect, the fall of a few days ago did not have a big effect on the altcoins and that can be a favorable point, let's continue to wait.
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Hi @chucho27
I particularly saw this price action today and thought this looks good, but although I think it could go up a bit more, the truth is that we have to remain cautious about the news that could come, because in the end, we know that they impact a lot the prices of cryptocurrencies.
Hello José.
Unfortunately that is very real, the news against cryptocurrencies affect it a lot and the FED is very eager to continue its attack with economic statements, you have to be careful.
This is like a mini bull run in the market which keep on coming and I think in last couple of months we have seen multiples instances when the price was down and all ups are then it moved up by 2-3k usd. We are still in the beer market and I hope that this time this is going to be a bit longer.
Hello my friend.
It really is an action that generates steadily the BTC market, and many of us want to see the bull market, so we have to wait, I think the rest of the year will be a market accumulating and bearing the blows of the news, to begin its rise in the first quarter of 2023.
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Hello friend
Bitcoin keep on surprising us with such moments in the market and I believe it happens when we don't expect any good spy but that's the market . This is like mini will run where we can make some sort of profit but not on the higher margin. Nice post
Hello.
Really the market surprises and always makes the most unexpected actions, so that people are left out of the moves, the reality is that we are still in a danger zone and we have to be careful.