Crypto, Rants, Reflections

Crypto: The Bitcoin Shift (Views)

The Bitcoin had just made an unprecedented shift on the chart to what I called the “unknown region” of USD10K on 22 Aug and this persisted through the past 30 days of trading with dips down to USD10K not once but at least thrice.

CMC-BTC
Jul 23 – Aug 23 Bitcoin’s Chart, Courtesy from CoinMarketCap.com

30 days High/ Low: $12,273.82 USD / $9,252.30 USD

To be real honest, I didn’t expect Bitcoin to enter the below USD10K region as based on the past charts,  the support level was deemed to be around ~ the USD 10K+/- region. Indeed the volatility in Cryptocurrency is real and many actually asked — if; $BTC will dip further?

In my opinion, it will definitely make a dip due to the traditional stock market movement. I always think that a stronger fiat with ends up with a weaker crypto shift and vice versa as the presence of cryptocurrency is to complement the shortcomings of fiat. And of course there would be more than one factors that will attribute to the dip, e.g. protests at the crypto-centric nations or some important politicals shift in the anchoring countries (China, US, Russia…)

However, with the Bitcoin’s halving that’s gonna happen in May 2020, I personally feel that the dip below USD10K is a good region to enter before the push. However one still need to (1) do some background works, (2) exercise their own due diligence and (3) assess their own risk tolerance (stop-loss strategies) prior to crypto-investing.

To the moon, and beyond.