Bitcoin broke 50,000 today! First time since May 14th
The last time we saw bitcoin at 50,000 was on May14th when bitcoin went down, breaking through resistance at 50k. At the time, most people believe it to be a sign of bear market rather than a correction and start offloading their crypto. This follows the peak of crypto greed&fear index swing from extreme greed (90+) to extreme fear (below 10) after most people FOMO in at the peak.
This is why it is important to hold your coins and keep DCA-ing even when the crypto seems to be crashing. You never know when crypto will recover and FOMO ing back in means you miss out on return during recovery. With this rally back to 50k, we have now reach a new level of resistance and given media coverage, many people will run back in and new ATH is possible. However, it is important to remember that the crash can happen again at anytime with whale activity also ATH.
Salute to all those who HODL!
Submitted August 22, 2021 at 11:21PM by saiou2 https://ift.tt/384Ygiv https://ift.tt/2Z7cX2s
from #Bitcoinmovement - The hub of Bitcoin and Crypto media https://ift.tt/3mwTgeK
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from #Bitcoinmovement - The hub of Bitcoin and Crypto media https://ift.tt/3ze7FQS
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