Each morning, I have had the unfortunate pleasure of waking up to the familiar red background around Bitcoin price. In short, another set of losses for some as the price drops lower. Bitcoin’s volatility alone is enough to give many a heart attack but as some who have traded know, you need volatility in a market to make money. Some pundits are already harping on about the death of Bitcoin but this now rings hollow with many. Other pundits have advocated the HODL principle. In other words, hold on to your coins if you have a long-term view. As for the day or swing traders, most of them have lost money. They won’t tell you about it but when in a dark corner, they confess all.
Truth be told, no one is sure what the price will be. Most are just guessing. Maybe today will different because as I write I am watching the price of Bitcoin. I am looking a support of $6,881.20 on the Bitfinex exchange. Current price on Bitfinex $6,986.10. I also have a global average Bitcoin chart open with a support of $6,897.97. Falling through these support levels would mean more pain. I am invested in very little Bitcoin so need not worry. So why are you watching the price you may ask. Reason, where Bitcoin goes others follow. Will the price be on the rise today? Your guess is as good as mine. Let’s just wait and see.
Swap your cryptos here:
Nosa Capital concentrates its' expertise in Strategy, Business Development, Project Management, Project Finance, Trending, and now cryptocurrencies