$30k First Time Since May

This past few weeks has been some really bearish moment for bitcoin, there was a time we thought we were approaching the bull market because of some few bitcoin pumps, but watching bitcoin get close to $20k was a little scary, that was when I accepted the reality that we are really in a bear market. The most annoying thing about bitcoin dip is how alt coins follow the dip path but fail to follow the same path when it is pumping. Most alt coins have had their biggest dip this period, except XRP, the XRP coin has been having a great time pumping as the ripple labs company is slowly winning their case against SEC.

With bitcoin’s pump, we are expecting to see bitcoin dominance increase as well, last year was a very troubling year for bitcoin as the FTX news took into a huge dump, this year we have not had any huge news worth enough to dump it, except the MT.Gox bitcoin release, which we are expecting the owners to dump and drive some dip into the market. More Bitcoin ETF is coming up, the Binance and coinbase law suit by SEC was somewhat the only huge news that had bitcoin dumping for obvious reason. Binance and coinable are the two major crypto exchanges in the world, they execute the largest trading volume, and a lot of people store their assets on these exchanges, so a hit at these exchanges is a hit to the crypto community.

Bitcoin getting to $30k today shouldn’t be something we should celebrates soon, you never can tell what move it might make next, we might see it sky rocket to $35k or more, who knows? I am glad to see it at this price but my expectations are still low, anything can still. Other alt coins are slowly moving up, but their increase is just single figure. This bear market has been a tough ride can’t wait for the bull market.

Posted Using LeoFinance Alpha