Post by
mrmomo on Oct 20, 2023 9:26am
Bitcoin at $30K.......Again!
Well, as expected, Bitcoin made another "attempt" to climb over that stubborn & difficult level of $30k. And it almost succeeded in staying there. Why is the 30K level so hard to attain & maintain? The problem here is very complex and involves things like global politics, policies and keeping the status quo. And there are many groups in the world who really don't want this getting any transaction. At least not more than it already has garnered. Unfortunately for Bitcoin fanatics, THAT $30k range is not only a very important level, it's a critical pivot point (which some folks don't want it to cross!) & psychological barrier for investors.
But as with everything, on the way (or down), IF it has the fundamentals in place and everything in it's favor, usually 99% of the time, you cannot prevent it from going where it's destined to go. That's just the law of physics and supply & demand. And i think we're coming very close to that time where NOTHING these people do, will prevent Bitcoin from exploding past that $30k mountain. It may be a wall or barrier for now, but once it gets over that, imho it's nothing but blue skies & smooth saling until $50K. Which is another difficult wall and psychological area to breach.
So for now my friends, enjoy the little baby steps that Bitcoin has managed to make up to this time and trust me when i say, there ARE better times ahead. My advice to all those who are interested in this sector, and are looking arounf for some exposure, is STAY invested in at least ONE decent miner (and i've given you my favs !!!) at all times, because you never KNOW when Bitcoin will make its move & surprise you......And you definitely DO NOT want to be left behind when that happens.........
GLTA