Bitcoin's price battle in the 6 to 7k range continues to rage. As you can see in the chart above, the past month has seen BTC navigate a narrow channel between $6,200 and $6,800. Sharp moves in either direction have lacked the momentum required to break out of this zone and push the price into a sustained trend up or down.
While bulls and bears plead their case, a strong hand and a firm belief in the long term future of Bitcoin are required to hold your position in the number one cryptocurrency. Trading and banking on significant price movements in either direction in the short term is a high risk strategy, fraught with danger.
There will only ever be 21 million Bitcoin. History is on the side of an eventual return to the previous high and beyond. Will you still be holding your BTC when that day arrives?
Bitcoin to the Moon is a blog dedicated to following the original cryptocurrency on a journey to its ultimate destination.
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