Bitcoin (BTC) passes the $ 60,000 mark: all is well! Bitcoin Dips Below $ 50,000: Everything Is Fine! A reassuring calm or a naive and dangerous recklessness: PlanB displays a zen air on Twitter after the BTC recorded 2 successive crashes in less than a week, during the 4th week of April 2021.
Not enough to lower morale
A Bitcoin which drops to $ 50,000, after having exceeded $ 60,000: nothing to shake a Plan B who does not see in this collapse in the price of BTC, any sign of the end of the bullish rally.
Mr $ 100,000, or even $ 288,000 by the end of December 2021, tweeted on April 23, 2021 where he indicates that “Nothing goes up in a straight line”.
Plan B recalled that Bitcoin has recorded 6 consecutive monthly green candlesticks since the start of the bull run in October 2021. April 2021 could be the mid-point low like that of 2013 and 2017.
April 14, 2021, Bitcoin hit a new ATH above $ 64,700. Bitcoin then fell below $ 48,000, with a drop of about 26%.
We replay the films
Plan B shared in his tweet of April 23, 2021 a chart showing the fluctuations in the price of Bitcoin during the bullish cycles following each halving. Declines occurred in 2012, 2016 and 2020. Bull runs took place in 2013, 2017 and 2020/2021.
Previous bull cycles have seen significant price declines. From the graph BLX of BraveNewCoin sure TradingView, after a significant increase in the price of BTC in 2013, the latter suffered a collapse of about 75% between April and July 2013. The fall was followed by significant gains until 2014.
September 2017, the course of BTC records a drop of about 40% after major gains. It then hit an ATH close to $ 20,000, the market was then bearish from 2018.
Bitcoin is trading at $ 54,707 at the time of writing. The fall below $ 50,000 has benefited financial institutions and other whales who have seized the opportunity to buy Bitcoins at a lower price. The hollow is an integral part of the journey towards the 6 digits: you might as well accept it, just a bad time to go through.
Fashion is good, but blockchain is the future, we agree, right ?! It’s a great opportunity and an evolving sector! On a daily basis, my job is to try to popularize cryptos / blockchains as well as possible, which appear to be far too technical.
The comments and opinions expressed in this article are those of the author alone, and should not be considered as investment advice. Do your own research before making any investment decisions.