Bitcoin is still hovering around the 100K levels and it seems that to me the range might go up this week until the end of December and straight up to the first quarter of next year 2023. The president of USA is also on the works for the Bitcoin strategic fund reserve for USA and it will give more demand for BTC and of course give more value to the King of Crypto.
As we have observed, the waves of buying from institutional investors is pumping BTC in waves which i s why the prices of Altcoins would follow. But then again the lull about the same buying spree especially if there is a considerable sell-off due to leverage trade liquidations would again pull the prices of altcoins in particular in a great way and thus wiping-off the gains again and again.
Patience pays for such crypto events and what we can only do is to sell when prices would pump again because in reality, these price pumps particularly in the Altcoin side are rare to occur and the evidence of that was the long time that we spend in the bear market where there is so much time in accumulating but only brief times for the harvest season. More often than not, many of us are left with a bag of cryptos which we are mentally often are being pushed to sell at low prices because of human emotions kicks in all the time where the opposite is what we should do during such extended times of bear market which had been the normal issue about the price movement ever since.
Yes we had a crypto rally two weeks ago and now we are just taking a breather. The coming USA administration of Mr. Trump will again give many more good news that would envigor the price of BTC once again and thus would cause price pumps which all of us wants to happen. I have a mixed feelings about the Altcoin season and even with this Bitcoin bull run if it would be a super cycle for it or not because some people are saying that it will take more time for BTC to even reach double its price from its current price of 100K at the time of this writing in December 2024, while others are saying that Bitcoin only might reach to price of 120-150K based on charts.
But based on the difference of the supposed newer and bigger demand for BTC because of ETF and nation sates in supposedly competing against USA's supposed strategic Bitcoin reserve fund by other nations especially wealthy nations, it might send BTC to an almost unimaginable prices. So either of these two scenarios happens, what we can just do is acquire as much cryptos as we can and sell it when things pumps. But that is just my opinion on the matter and not all have the same plans, just do your own research and do not take my views and opinions here as facts.
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