BTC was drop below $25k just a week ago while I am writing this post. There was so many rumors which spread by anti-crypto people like – crypto is dead, bitcoin going to zero and so many funny quote they made. But why that dump is happened? Is it a bull trap? What is the next move? Today we are going to discuss all those things.
BTC to $40k or Slide Back To $20K Zone?
Before the BTC dump happened, if you active in the crypto community, you may know there many things actually happened. First we see meme season with the rise of great PEPE token. With the rise of PEPE, we also see a thousand of new meme token also launch, some still exists and most of them rug pull people badly. PEPE gave amazing return to it’s investor even get listed on binance. But then we also saw every meme token got down like crazy, every day -70% to -80%. After that we saw SEC sues Binance and Coinbase. So there actually a lot’s of bad news together in crypto community that time. It maybe one reason of btc slide down below $25k but I mostly believe it was a bull trap because it even not took 2 days to get back to $28k and then to $30k.
Now just keep every recent co-incident aside and if we check the BTC chart from LUNA crash incident to these days you will see only a green chart. Yes, means it’s keeping it up-trend well. Yes there some slide down happened but it recover quickly, hold and move forward. Last one year chart only saying we are just up, yes it’s slowly but up is happening.
So what will be the next move? Next move surely road to $33k then $35k, $38k and $40k. Yes there will be some trap but it will continue to go to next stoppage of $40k. There’s no way it will go down to $20K mark.