Bitcoin has been trending down
This morning, BTC has made some small gains, but in the larger picture these are small moves.
You can see that I am tracking two hour periods of time now, where would you buy in today?
How low will BTC fall today? I am going to continue to make notes and see where the trend takes us.
Usually I just put cash in a Bitcoin ATM but if I start to feel confident with Bitget I may try this out.
https://bitcointicker.co/stamp/btc/usd/1hr/
Will BTC fall to $58,475 USD today?
https://bitcointicker.co/stamp/btc/usd/30days/
Bitcoin dipped to $49,577 USD at the start of August and there's really only been one big Green candle since then, with some consolidating trades you can see since. Zoom out, you see all the red
https://bitcointicker.co/stamp/btc/usd/6Mth/
candles selling but providing support, as a Hodler I always keep a long view and on the monthly
this is all just one big red candle before another green one.
Is that $53,526? Often the BTC price action after summer holidays sneaks up on us.
Each month of Green candles ^ buying BTC ^ keep buying BTC (just in case you need more Hive)
Bitcoin is $58,775 USD (-) around 1:06pm on August 12 2024.
There are only 1,260,947 BTC remaining to be mined.
Countdown to the next block halving:
April 17th 2028 @ 13:38:12 UTC
Do your own research, these are just observations over time.
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I always compare btc with s&p500, because when markets fall, btc falls with them. It's not as it used to be in first few years when btc was a hedge. Now (specially now, when big part it is managed by BlackRock, who just cares for trading fees) bitcoin is in same position as a stock index, where 3-5 stocks take 99% of all USD in whole index. In btc, whales have over 90% power over whole btc. There is only 1,8% whales, and they manage the price. like it or not, that's where we are. If you are asking, where btc price will go? You should look at bond market, and how people usually react. US bonds will fall in next few months. Which is not anything positive. But those who think they know the market, will fall into this trap, and "buy the dip". Including BTC. So I think, BTC will have its last hooray up to around 80-85k. And after that major fall, together will stock market. I think stock market will fall at least 40%. Btc is usually double of what stock market is doing, so...do the math.
Thank you for your insight, I will watch the S&P500 and see if I can see any correlations while I make my observations! We are small fish in a big sea.
BTC did touch 58,475 around 1:00pm MST, will it trend lower this afternoon?
Will the price of BTC rise tonight or will it trend lower?
I am just making observations, on https://www.bitget.com/trading-bot/spot/BTCUSDT
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