Bitcoin continues to try to start a new upward trend. And at least thousands of cryptocurrency experts and those who, in fact, own bitcoin coins believe in this. However, both the fundamental background and the technical picture speaks in favor of the fact that Bitcoin will either continue to decline or continue to consolidate. On the 24-hour timeframe, it is clearly seen that the growth has stalled around the level of $40,000 per coin, while on the 4-hour timeframe, it is clearly seen that the price worked out yesterday the Senkou Span B line and rebounded from it, so the chances of a downward movement are growing again. However, there are still people who continue to speak in favor of bitcoin, in whose words there is still a certain trust. In particular, we are talking about the billionaire Ray Dalio, who owns the investment company Bridgewater Associates. He believes that bitcoins are much better than bonds, and that the first cryptocurrency in the world may well suppress the financial control of states. Dalio also believes that the more people own bitcoin, the less control over them by the state. Everything that the world-renowned billionaire investor said is true. However, do not forget that absolutely any government can impose strict restrictions on the cryptocurrency sphere. It can ban bitcoin, it can ban all cryptocurrencies in general, it can ban mining, it can ban any financial transactions in digital assets, it can raise taxes for this area. In general, they can everything so that bitcoin and its counterparts simply cease to be profitable, especially for ordinary people. Even now, not all Americans have Bitcoin. Not all Americans have cryptocurrencies at all. In order for ordinary people to want to own a cryptocurrency, they need to clearly understand why they need it at all. Bitcoin was, is, and remains exclusively a means of investment, like many other cryptocurrencies. And why do ordinary people all need bitcoin? A maximum of 10% of the inhabitants of our planet invest in various financial instruments. Others do not need Bitcoin and other digital tokens in the same way as stocks, bonds, derivatives, and other financial instruments. Bitcoin is too slow as a means of payment. Thus, Ray Dalio speaks from the perspective of an investor and financier, but his words also show a personal interest in seeing bitcoin rise in value again. We already said yesterday that the CFO of MicroStrategy openly stated that all technology companies must invest in bitcoin.
Technically, bitcoin on a 4-hour timeframe may now resume its decline up to its 2021 lows. The key signal for this is a rebound from the Senkou Span B line, which is at the level of $ 40,500. So far, there is no trend line or channel, but two rounds of growth in recent years (and the second is less than the first) indicate that there are few bitcoin buyers now, but there are more sellers. We believe that ibitcoin may collapse down again in the near future.
