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I think the main reason Bitcoin is holding for several days in a cycle from $38,000 to $41,000 is the whales. There may be interest in holding value in those areas before going higher or lower, and this is coming from months ago when there was much more buying pressure. Now we cannot say that it is FUD or bad news of a specific sector since the latest news about Bitcoin and crypto is quite positive for the ecosystem, that's why I think some whales are responsible.
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BTC: Once Again at $39K For Lack of Reasons?
When I entered preev.com I see that Bitcoin is once again entering the $39K zone and can be hitting $38K soon...maybe before there will be some bulk buying especially from big investors and then days from now it would be rising beyond $41K. This has become a cycle of Bitcoin these days...and if you look at it am sure there are many traders making good money out of this predictable trend.
So what do you think are the reasons why Bitcoin is not able to go beyond the $45K level and seems to be stuck with this cycle...? As for me, the biggest reason (and can be more out there, really) is the lack of reasons in itself thus we don't see a good level of excitement for Bitcoin in this month...so should we expect a better month in May for Bitcoin?
