A new report shows that investors are opting to sell as Bitcoin price recovers above critical resistance zones. But the situation can suddenly turn around…
Traders seize the recent Bitcoin surge as an opportunity to take profits
On-chain analytics resource Santiment said that traders prefer to take profits rather than wait as Bitcoin exceeds $20,000. Many market players rushed to take profits when the BTC price hit this level. However, Santiment also mentions a scenario that those who do this will regret:
It seems that many traders were waiting for the $20,000 threshold to start selling. As Bitcoin (BTC) climbed above this psychological level, it started making massive profits. Now, we’ll find out if those looking to sell will regret their decision.
According to Santiment’s chart, most of the day’s trading volume came from investors in profit. While BTC price was weak to break the $19,000 resistance until September 27, it gained strong momentum reaching $20,000 from the early hours of the day. This move means that September, which has remained red since 2016, will close “green” in 2022. Price action naturally happened unnoticed in the market. It was a rise that surprised many masters.
Robert Kiyosaki says things will get worse
Bitcoin price is trading above $20,000 for the first time since September 18. CMC data shows that the total value of the cryptocurrency market has again exceeded $1 trillion. However, price action faces tough hurdles at higher levels. As the bitcoin and altcoin market continues to rise, trading volume remains weak for local tops. While the BTC price has risen by around 5% over the last 24 hours, it has not moved far from $20,000.
Meanwhile, Robert Kiyosaki, author of the book “Rich Dad, Poor Dad,” said as Bitcoin fluctuated around $19,000 on September 26:
I have warned in my books, the biggest collapse has been happening since the 1990s. The FED prints FAKE dollars instead of solving problems. As everything collapses, gold, silver, even BC collapses. Your ultimate asset in the giant crash is your financial wisdom.
cryptocoin.comAs you follow on , Kiyosaki said earlier that we can’t even buy more gold anymore. That said, there is still enough Bitcoin to buy. However, this time he did not encourage buying BTC.
A week ago, the Fed took another hawkish step to break the spine of inflation. The US Federal Reserve raised interest rates by 75 basis points. When this happened, Bitcoin started to drop from $19,800 to $18,800 in a single hour. It printed a long red candle on the chart. Thus, it was the third consecutive rate hike this year since May.
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