It’s been weeks of great uncertainty over the price of Bitcoin. Well, despite the fact that it remains at a decent price, standing at around $10,000 per BTC. Sharp changes in its price, both upwards and downwards, keep crypto market investors on tenterhooks. So today we try to analyze where the price of Bitcoin Millionaire is going.
Analysis of Crypto-Currencies: Scared or changing trend?
The post-having market
It has been several weeks since the third Halving occurred in the Bitcoin Blockchain. And since then, a number of contradictory forces have been at work in the cryptomoney market. Leading to the point where a phenomenon known as “side market” has been created.
Side markets consist of a situation where there is no clear upward or downward trend in an asset. Small upward and downward price spikes follow, which ultimately do not significantly alter market performance. Even when it comes to falls like yesterday’s, followed by an almost immediate recovery.
Lateralisation of the market normally occurs due to the presence of contradictory forces in the market. Which pull the price of assets like Bitcoin both up and down. In a competition that will eventually result in the triumph of one of the two trends, either by imposing itself on the other, or by an external event that ends up defining the market.
However, until the market breaks sideways, it is difficult for investors to know where the price of Bitcoin will go. Especially when, as is the case at the moment, there are so many different forces acting simultaneously in the crypto market.