The whole trading and investing community worldwide has witness, just before the end of 2020 a rally in crypto currencies, especially BTC-Bit Coin! A very simple way of explaining this rally is would be the term SAFE HEAVEN! Up until recently the term was used primarily for Gold. Why? Whenever there was uncertainty in the market, both traders and investors would turn to gold. To be perfectly clear Bit Coin is not a safe haven asset! But one should take into consideration its previous movement, that is the significant rise, as well as fall and longevity at certain time that hinder it is on its way to become a safe haven asset. Many, said quite a few times it is a bubble! Yet what makes an asset a safe heaven? Quite simply at times of prosperity it has to fall AND It Did! Now what is Bubble? Again in a simple way the price of an assets that ferociously increases in price, way above its value, Up until the price become unsustainable and in return a ferocious decline to its real value or even less! Something that did not happen with Bit Coin! The original price of bit coin was less than $0.01. It never dropped to $1!
I can give plethora information and even discuss a few ideas regarding Bit Coin! I won’t, I will be much more simple and to the point! Quite a few traders and organizations’ have even set up target prices and dates and sell off’s! I will say the sell will happen and will probably be a strong one, simply because the profit is there and both traders and investors will like to cash out! Yet the main reason is RE-ENTERING!! RE-POSITIONING!! Yes, traders and investors are dreaming of such a time! Re-entering with a long position in such a promising asset, in a lower price! So, tread carefully and smartly! My sources say when the price reaches 40k the sell off will start!
With all the crypto and Bit Coin rally happening, tomorrow 08/01/2021 we have the First NFP release data in the US of the year and with a newly elect US President! The forecast shows almost 4 times less jobs available than the previous one! Will it be negative and cause the selloff of Bit Coin sooner Or being negative will make traders and Investors to push the price higher? Turning to a SAFE HEAVEN!! With the Covid –19 Pandemic, Everybody is looking for something SAFE!! Tread carefully and smartly!
MaNe IDR 