The bitcoin exchange rate continues to calmly rise in price and has already reached the mark of $ 57,000 per coin. There is still no question of any correction. In this article, we would like to analyze in detail the specifics of the cryptocurrency market and why bitcoin can grow to $ 100,000 per coin in the next one or two months. To begin with, let's remember that the number 1 cryptocurrency rose by $ 10,000 only thanks to a couple of tweets from Elon Musk and statements from representatives of several companies that they plan to work with bitcoin or invest in it. These actions are of great importance for the cryptocurrency market because they show the rest of the players what to do. It is these "cryptocurrency manipulations" that lead to serious price increases. Simply put, a huge number of bitcoin traders buy this cryptocurrency with one goal – to make money on growth. Accordingly, the more crypto traders join the "buy bitcoin" movement, the more its value will grow. Accordingly, large holders of bitcoin can only warm up interest in the cryptocurrency and make it clear to the market that they believe in further price growth and that $ 100,000 per coin (or any other goal) is an objective reality. That's what Elon Musk and the company are doing right now. The owner of Tesla and SpaceX has clearly shown an unhealthy interest in bitcoin in recent weeks. One of the richest people in the world (which automatically means a huge trust in his words) regularly comments on bitcoin, mentions it in his comments, and makes it clear that the cryptocurrency will continue to grow. And if the richest man on Earth says that the "cue ball" will continue to grow, then why not believe him? The latest news related to Elon Musk says that the businessman has joined the Internet movement "Laser Way for Bitcoin''. The meaning of this movement is to post images to their social networks with the image of "glowing eyes", which symbolize the further growth of the "cue ball". It is clear that everyone who posts such an image in their account is the owner of bitcoin and believes in its further growth. Now a similar image was posted by Elon Musk, and the number one cryptocurrency continued to rise in price. Thus, the main conclusion that we would like to draw is that large investors and players continue to manipulate the market to maximize the growth of bitcoin, in which they are personally interested. And it's not good, and it's not bad. This is reality. Recent events have already shown that if a large number of people unite with a single goal, they are quite capable of bringing down certain stocks or, on the contrary, provoking their huge and illogical (at first glance) growth. However, the price of any asset is determined by supply and demand. If an asset is bought, it increases in price. And why it is bought, it is no longer interesting to anyone in 2020-2021.
What do you think will be the reaction of bitcoin if tomorrow Elon Musk announces that he has sold all the coins he has?
