Yesterday, after breaking through $64,500 quite well, Bitcoin had risen to the level of $65,300. However, with the bad news from the SEC regarding Robinhood, this rise suddenly turned in the opposite direction, and Bitcoin found itself at levels around $62,900.
I would like to say that this downturn will be short-term and express my expectation of a rise again in the near future.
This is no coincidence considering the show of interest of big players like Blackrock and Fidelity. The whales are manipulating the general market and it comes at no surprise to me, especially looking at the timing of the fall off of Bitcoin from 65k levels.
But I believe that we will surpass the $64,500 level again in the short term and maybe even reach $67,000. The $67,000 level will be quite favorable for me in terms of adding to short positions.
With this recent price action, I deduce that Bitcoin will plumet further below 60k within this month of May. I am however optimistic that Bitcoin will easily go above the 120k mark this year if we break above 70k within June.
NB: Trade cautiously, and always do your research. This is not financial advice.
