Why is bitcoin not able to maintain positive growth ?

[onlinemarketer12]

Yesterday it was moving up and going towards 40K but today again it is negative. Very much fluctuations in price now. What is the reason ?

 

[iFull]

Elon musk memes impacted cryptocurrencies legitimacy
And china new regulations and "bans"

 

[alurosu]

It's a free market. Anyone can play with it.

 

[HustleTong]

Ask the sharks.
They're the ones pulling strings

 

[onlinemarketer12]

Elon musk memes impacted cryptocurrencies legitimacy
And china new regulations and "bans"

That is old news.

 

[SonOfBhw]

Simple- Negative news- people sell - price low

positive news- people buy- price high

And this is happening with bitcoin right now.

Also, big boys are playing with it to get the market down to 20k and reinvest.

 

[Fakker]

Elon musk memes impacted cryptocurrencies legitimacy
And china new regulations and "bans"

NEW regulation?

 

[TheGreyMatter]

Looks like you missed Elon's new tweet.

 

[onlinemarketer12]

Looks like you missed Elon's new tweet.

Just saw it now. He is affecting so many lives.

 

[alus1onZ]

Guys, listen.

You are witnessing a war between Elon and the market makers. Elon is losing it and he is desperate about it. I kinda feel sorry for him (or not ).

He is NOT the smart money in this game and his ego will destroy him.

No matter what Elon tweets, the market makers decide how much the price will move, because they are the ones filling those orders. And when they decide that the filling stops, the move also stops.

Don't be dumb like Elon guys, be smart like the market makers and follow their moves

 

[HisokaMorow]

It's because of those :

 

[kmoore]

After the steep fall from 60-65K levels, it is trying to consolidate around 30K to 40K levels.
Here are some important points to note
a) In Jan 2021 - for almost a month - it was consolidating at this same level (30K to 40K)
b) It is below its 200 day EMA (around 41.5K levels) which means technically it has entered into a bear market
Should it cross 42K levels decisively - one can expect a trend on the upside.
c) Below the 28.5K to 29.5 levels - huge selling pressure expected...

Disclaimer: Just my personal opinion/analysis - please consult your Financial Advisor for your live trades.

 

[onlinemarketer12]

After the steep fall from 60-65K levels, it is trying to consolidate around 30K to 40K levels.
Here are some important points to note
a) In Jan 2021 - for almost a month - it was consolidating at this same level (30K to 40K)
b) It is below its 200 day EMA (around 41.5K levels) which means technically it has entered into a bear market
Should it cross 42K levels decisively - one can expect a trend on the upside.
c) Below the 28.5K to 29.5 levels - huge selling pressure expected...

Disclaimer: Just my personal opinion/analysis - please consult your Financial Advisor for your live trades.

Thanks for the analysis. I want 60 K asap, to recover my money.

 

[Dedibay]

Yesterday it was moving up and going towards 40K but today again it is negative. Very much fluctuations in price now. What is the reason ?

Bitcoin is future,which they use it to invest.That's why up and down.Big guy behind bicoin just want profit from it.So how it is possible to let it positive up?

 

[Nikolaos]

Yesterday it was moving up and going towards 40K but today again it is negative. Very much fluctuations in price now. What is the reason ?

Because the fear of people selling has caused panic and they're dumping it.

 

[CoderFromHell]

It’s only been down a month or less, it’ll hit 70k by November.

 

[mindmaster]

Leaving aside momentary causes for price change, what asset keeps an uptrend continuously?

 

[onlinemarketer12]

It’s only been down a month or less, it’ll hit 70k by November.

That does not sound very big to me. Was already 60K.

 

[AU369]

You guys must be naive thinking Musk has any power to move bitcoin.
Bitcoin is mainly accumulated by Banks and big institutions.
Bitcoin has a purpose and its not making people wealthy.
So they need to accumulate bitcoin by creating fear so retailers sell their bitcoin cheap so the price can move higher without creating wealth for the average guy.

I would recommend first thinking what the agenda behind bitcoin is because it is directed against you

 

[GiraffeBurgersAndFries]

Short answer: there is a ton of FUD going on right now. From many angles. All designed to make you think BTC is dead (For the 420th time). Or that it's killing the environment. Or that it's part of a Commie plot to hurt Murica. Whatever. All so people can accumulate cheaper....

We've got catalysts on the horizon. I feel the FUD starting to dissipate. Patience is rewarded. Impatience is a wealth transfer. Don't get shaken out. Smoke a joint and relax family