RE: Excessive volatility experienced by the BTC price action in the last few hours
Dear @lupafilotaxia
I'm glad to know that you're still around. I had some break from my activities online but it's time to be back. I enjoyed some sort of 'freedom from laptop' for way to long hehehe
Let's get to your topic of discussion:
part of me was actually hoping that we will face some correction as I see pullbacks as a healthy thing. What matters is the fact that selling pressure is obviously lowering and most investors who are still holding to their cryptos should be aware about upcoming FED pivot. It's just a matter of time before FED will be forced to start lowering interest rates. And expectations of it are already the very main reason for pump all above $30k usd.
Those expectations won't be easily broken. It may be very difficult to bring any sort of 'panic sale' again in current market condition. Right now so much depends on level of interest rates and FED actions.
That's my personal view.
an event that was linked to wallets linked to the defunct cryptocurrency exchange Mt. Gox and the U.S. government, as it was claimed that they had moved large amounts of Bitcoin, which triggered a plunge in price action.
OH. I didn't know about it. Thanks for that update.
Great read. As always :)
Yours, Piotr
Hello dear good friend @crypto.piotr
Getting away from the laptop for a while will always be a healthy thing, glad to hear you were able to take advantage of that time to rest.
I agree with you, it is healthy for the market that the price action corrects, and even if the cryptocurrency market is very volatile somehow the external situation is collaborating to create a kind of equilibrium, which later on can give us a better floor before seeing a new bull run.
Best regards, be well.