Hi Traders, i've been receiving lots of dms regarding Bitcoin's direction "Is it really heading towards the 100k benchmark?" OR "Is Bitcoin a scam?!". If you're asking me several years back then, i'd say Bitcoin is a highly unsustainable instrument to trade, collapsed from $19,500 to $4,000 back in 2017 - 2019. I'll list down some of the points here
1. Major industries are slowly accepting digital currencies as their payment method
2. Banks are putting 1% of their portfolio into crypto investment
3. NFT's market boom recently
4. More and more retail traders are hopping into the crypto boat
I do see long-term prospects in the digital currency as the world is evolving, we cannot deny it. But, as more and more retail traders are blindly jumping into it, I do foresee another short-term crash coming up soon. In short-term view, 67-68k price zone is a good Area of Value to look for potential selling opportunity. If the demand is still high, 51-52k provides a minor support structure for possible long.
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1. Major industries are slowly accepting digital currencies as their payment method
2. Banks are putting 1% of their portfolio into crypto investment
3. NFT's market boom recently
4. More and more retail traders are hopping into the crypto boat
I do see long-term prospects in the digital currency as the world is evolving, we cannot deny it. But, as more and more retail traders are blindly jumping into it, I do foresee another short-term crash coming up soon. In short-term view, 67-68k price zone is a good Area of Value to look for potential selling opportunity. If the demand is still high, 51-52k provides a minor support structure for possible long.
If you enjoy the content, make sure you follow my profile and give me a thumbs up for daily fx forecast & educational content.