Bitcoin is Back on Track since German Govt has Sold all of its Bitcoin Holdings

Bitcoin price has been on continuous rise since German Government sold all of its Bitcoin holdings. Not only Bitcoin but altcoins are also on recovering line. Bitcoin printed a nice big green candle from $59 to $65k. This was expected as the selling pressure is reduced significantly since German Government has sold its last batch of Bitcoin holdings.

Crypto Market is getting mature day by day which is why it is considered that in the future such kind of actions will have less or zero effect on prices. If you are not a newbie then you know it very well that the market now react less than the past on FUD. Offcourse it may not completely be zero effect but would be negligible.

I witness one thing since i joined cryptocurrency which is the notorious act by the bad actors, it is whenever the crypto market do good we see rumors hitting it badly in an attempt to destroy it but in the end it failed badly. Rumore can effect the market but for a limited time, it is impossible to keep the market down with such tactics.

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Moving forward good thing is that crypto market is now recovering as Bitcoin has come out of the $60k zone hitting $65k but the price dropped back to $63k which is fine as people may be taking profit who bought in the range of $55k.

Bitcoin price is declined at $65k which means that it has a strong resistance there that is why it is sent back to $63k. There are two possibilities now. If Bitcoin crosses $65k in the next three days then we can see $68k easily. If the resistance doesnt get broke at $65k then we can can see $61k which has very less chances. There are good chance from here that Bitcoin will broke $65k and move towards $70k.

Altcoins will fully depend on Bitcoin price action just like we see them reacting usually. To make it more clear for newbies , if Bitcoin goes up then altcoins will go up and vice versa. In short altcoins do follow Bitcoin.

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On the other hands there are a few altcoins who sometimes dont follow Bitcoin moves. For example when Bitcoin price drops we still see some altcoins get their prices increased upto 50%. This sometimes happens due to some positive news within the project which push up its price even when rest of the market is in red.

While some of the altcoins dont care if Bitcoin goes up or down they seems following their own patterns , an example of this is $HIVE. we have seen that hive do not follow Bitcoin or rest of the market when it comes to price moves.

Hive price is going down day by day which is not good for the ones who bought at higher prices but they can DCA in order to maintain a healthy buy price. Hive at current price is a golden chance to fill bags at discount. Someone who buys Hive at $0.22 can secure future as its a good deal. If the price reaches 44 cents then it will be a 100% profit which is very possible. Its just a matter of time.

Thats it for today. Thanks for reading. What do you think about my today's topic? Let me know your thoughts in comment section. In the end i would like to Wish you and your family a happy day ahead. Stay Blessed.

Motivation Dose
Get out of your comfort zone and fight the troubles and hurdles that come your way to success. Success awaits you. Life is beautiful ، live it to the fullest. Dont be hopeless. Stand strong in the ups and downs of life as its part of life. There is always a light behind every dark side.

About Author
@coolguy222 is a crypto trader and content creator on hive blockchain. He also runs a small business of Mobile accessories and Wrist watches. He loves to make new friends.

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