Will Bitcoin undergo a correction now?
Assalamu Alaikum
How are you? By Allah's grace, I'm doing very well.
You can see that almost all the coins have pumped 15 to 20 percent, and some questions are coming in your mind like how far can the market go, will we take profit? The question of those who could not buy and waited for the dump is will we not get the opportunity to buy? So let's find out the answers to these, currently the price of Bitcoin is above 100 thousand dollars. Bitcoin had a strong support at 88 thousand dollars, I thought there would be a down from here and then the market would go up but the market has already pumped us by deceiving everyone. Currently, no news can affect Bitcoin, now we have to see what the next movement of Bitcoin can be. So now you are thinking whether you should take profit or hold, the answer to this is that if your goal is investment, then you should hold the coin with a stop loss within the buy price. Bitcoin's dominance is still above 60 percent and it is still pumping all the coins in the market, think about how much it can pump if it comes below 50 percent. To be clear, the profit will be taken by those who have bought for the short term and those who are waiting for the Altcoin season will hold.
If Bitcoin goes above $106,000, it may come to $97,000 at least once, and Bitcoin has already dropped to $102,000 and is seen to be correcting a little. So everyone be careful, no one will sell out of fear, now those who are regretting and thinking, maybe you have missed the rally. This is your psychology problem, you always think that the bullrun may be missed, in fact, nothing like this happened because when Bitcoin dumps, Altcoins will be down by 20%-30. Then you will use this opportunity, now what you have to do is manage your portfolio. Because if you do not manage your portfolio, you may face problems in the future, the market will not give us a chance again and again, this may be the last chance, we have to use this last chance. The crypto market is always unstable, as a result of which you have to take steps according to your own risk.
Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.
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