Many people question how to predict the future price increase of bitcoin. Curiosity and desire to develop potential traders will inevitably lead to chart movements. Bitcoin is volatile due to market participants, and the most significant is pressure from local government agencies or institutions.
If you want to know how to predict the price of bitcoin in the future, of course you have to prepare in advance. Of course it takes a lot of time to analyze charts and economic developments. Is just analyzing the chart movement a guarantee?
Graphics are not a guarantee that the price of this crypto asset will increase in the future. The existence of graphs can be used as a source to "predict" the ups and downs of bitcoin prices.
The more market participants who hold crypto, the price will quickly skyrocket. However, most people are too hasty when they hear a problem that is not certain the truth.
Speculators often raise issues regarding bitcoin or currency when the price is at the top of the chart. If BTC is allowed to continue to follow the price flow and the enthusiasts who hold BTC, then altcoins and other tokens will have a bad impact, not developing at all.
The issue that is spread is not a hoax, it's just that the printed title and content make readers think differently. Even though the intent and purpose are not like that, such as news about the ban on bitcoin in Korea.
Combination of Fundamental and Technical Analysis
This method is considered to be 60 percent more effective than predicting from a graph. So many traders and shareholders today are more comfortable combining fundamental and technical analysis.
Be responsive to information published in international news and social media. Any information that is barely clear about its intent and purpose will have a significant impact on the decline in bitcoin's price.
For example, the company's cooperation contract with bitcoin has expired, but there is no mention of the contract being extended or not. Over the next 2-3 days, the press release issued a statement that the contract had been extended. From this news alone, after 10 percent bearish, 20 percent could become spontaneous bullish.
Marketing strategies like the one above are commonplace, leaving the market wondering what happened to bitcoin. For those of you who are new to the world of crypto, maybe you will be surprised and can give up.
But that's the market players, if not in the above way then the price of bitcoin will never reach hundreds of millions. That's how to predict the increase in bitcoin price, coupled with chart analysis. And one more thing, be careful with Pump, this way and activity has actually been protested a lot.
Pumps that are temporary / flocking can have a negative impact on the market, and can even destroy buyers' confidence in the coin. If coins are pumped too often, many people will avoid these coins.
Pumping is fine, as long as it is regulated for the public interest. Even coin developers will pump up their coins when the price drops too far.