Bitcoin is trying to pass the resistance level at $70k but getting declined because of insane pressure there. This is not the first time Bitcoin price facing difficulties going above that level, its many times happened before that whenever it gets to $70k then goes down from here.
People are taking profit by selling Bitcoin at $70k which is fine as its a free market, everyone is free to buy and sell whenever they want. Another reason for the sell could be swing trading in which people sell high and then buy when it gets low. This does not work well always as the price may pump further from your selling point and may not come down again.
Bitcoin price seems go be gearing up before the bull market . The price is holding string at $67k despite of the huge sell pressure. Its good to get rid of the weak hands. We need only people who truly believe in Bitcoin Future. The market is shaking out weak hands is good for the longterm holders.
We are all waiting for the bullrun because its when altcoins do print big profits but not every altcoin will print profit. This is why you should choose those coins who are solid enough to give you good profit in the bull market. Choosing a good coin to for buying is tough as it carries a huge risk. When we invest in a project its basically an investment which comes up with risks as there is no guarantee of profit but we can take care a few points and lower the risk percentage.
For example if you want to invest in a coin, before buying it make sure that it is a solid project and not a random one , means that it should have a good usecase and a well reputed team behind it.
Thats a bit hard to follow these points but believe me that when you do you will have a good coin in your bag and lower risk of getting rugged. This just requires a bit of research and then you are good to go but keep in mind that an investment is always a risk so invest wisely.
On the other hand i was going through my feed on X and came across a thread from the account Lookonchain according to which A Japanese crypto exchange DMM Bitcoin is hacked for 4502 BTC worth $305 million. The hacker has transferred these Bitcoin to 10 new addresses.
It has come to know that the exchange owner has not filed for any bankruptcy. The exchange will buy the equal amount from their own pocket. This sounds cool but why not track those funds and get the hacker behind jail bars. This is a bit lengthy process, well maybe the team is first willing to refund losses and then will chase the hacker, we dont know what is in their mind.
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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