Despite the stagnation, Bitcoin’s price remains at $67,000, a recovery from last week’s dip into the $50,000 range, but the all-time high above $74,000 still seems so near and yet so far.
Such market conditions often lead to anxiety among investors, as fear, uncertainty, doubt and greed dominate sentiment. These emotions can lead to painful decisions and mistakes.
However, for Samson Mow, a well-known figure in the cryptocurrency space, these fluctuations are not cause for concern. Mow, famous for his bold predictions, including a forecast of reaching $1 million BTC, maintains an optimistic outlook.
This cycle, Mow suggests, is a fundamental characteristic of Bitcoin’s market dynamics.
Whether this is really how the bitcoin price works remains to be proven, but anyone who has spent enough time in the crypto market understands it’s hard to argue with such an explanation. Especially the “melting faces” part.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
