Bitcoin Breaks $3600 Again - Let's Hope It Lasts!! (+ Possible Cause)
I almost jumped two feet in the air when I saw that Bitcoin had risen to 3600 USD again. Tomorrow it's payday for me and I receive part of my income in Bitcoin. So, the higher Bitcoin's price is, the more fiat value I receive. I'm always happy when Bitcoin's value increases with $300, although I am anticipating another drop in a few days. You can see that sort of pattern very clearly on the chart above.
Mainstream newspaper The Independent mentioned that Venezuela's high trading volume might be behind the current upswing. While this might be the case, I'm personally a bit more wary to make such claims.
An upswing for Bitcoin also means that altcoins get to see an increase in value. This is because almost all altcoins are mainly traded against Bitcoin. So when Bitcoin goes up, the dollar equivalents for altcoins also go up.
As you can see, Steem is almost ready to go over $0.30 again. If the Bitcoin price can maintain its current momentum, we might not see Steem dive under $0.30 again for the rest of the year or longer. This is of course pure speculation on my part, but I'd say there's a fair chance of this happening. My reasoning for that is, looking at the amount of value gained, it looks to be quite a lot more than it had gained the last times. Now it's a matter of hoping that support levels will hold.
In the end, I'm counting on the bulls taking over the market and leaving the bears behind. You're not going to get much in terms of technical analysis from me, for that I'll refer you to this article on Newsbtc
I noticed it earlier.. the big push has gone but its still going up.
Usually it tends to drop during the weekends, we'll see I guess :)
Thanks for using eSteem!
Your post has been voted as a part of eSteem encouragement program. Keep up the good work! Install Android, iOS Mobile app or Windows, Mac, Linux Surfer app, if you haven't already!
Learn more: https://esteem.app
Join our discord: https://discord.gg/8eHupPq
Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
Steem has been threatening to move upwards with the past couple of months. A good run from bitcoin should give it that push. Hopefully we can see a steady gain for a while.
Posted using Partiko Android
It hasn't broken any good Trendlines, nor resistances, it hasn't done any higher lower, and there is 0 signs of reversal atm... the only thing that might be an indication of a bottom is the fact that we are above the 200 weekly MA, which normally supports us until the end of the bear market, mainly during the consolidation phase... but I don't know if it will hold to be honest, the bounces are very weak... The best time to invest in crypto is after the confirmation of a reversal in the market to bull market, which is pretty easy to spot with 1 single Trendline... the trendline from all the february-until now tops, after we break that and test it again we are in a confirmed bull market and the price will go bull... last time it happened BTC pumped 40% in a matter of days, this time will probably happen again, when it happens... We got a high amount of money waiting on the sidelines from traders and investors, especially on USDT AKA tether!
showing signs of life like this is going to be good for the future...... how many people are going 'i knew this was going to happen'
well, be ready next time and learn :)
Hi @daan!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 3.996 which ranks you at #3747 across all Steem accounts.
Your rank has not changed in the last three days.
In our last Algorithmic Curation Round, consisting of 199 contributions, your post is ranked at #51.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server
Let's hope after the breaks it will be running fast to the moon.
I was really surprised to see it go above $3600 again too. Now we just have to wait and see if it can hold over that point. I really hope it does. I am not looking for the moon, but it would be nice to see a steady climb up again. This up and down, up and down is mind numbing. I can't even imagine if part of my salary depended on it!
!bookkeeping drugwars
Hi @daan!
drugwars
Received:
Spent:
Total:
First transfer was before 13.02 days.
Your ROI per day is 5.60 % and you are earning approx. 5.67 STEEM per day.
Break even in approx. 4.8 days.