Bitcoin has been fluctuating around $70,000 after reaching $72,000.
As previously expected, it remains in a downtrend.
However, an unusual aspect is that despite the increase in buying volume for Bitcoin, it has actually declined slightly.
I was not well aware of the ETF effect before, but through ETFs, the buying volume for Bitcoin has been gradually increasing, and particularly, the buying volume for Ethereum has significantly increased.
The chart has stabilized considerably.
If previously it showed movements akin to scams, now it seems to follow more honest and basic rules of charting.
It moves up when it should and pulls back when it should.
Today, I hesitated to write a blog because although I anticipated a decline and it did happen, the subsequent movements were not particularly clear, so I did not write.
Perhaps because my predictions have been mostly accurate recently, I feel like I’m losing some humility.
Bitcoin is a game of probability. If 70 percent of your predictions are correct, you are considered to have a high predictive ability, and it’s essentially a game where you can make a lot of money.
I focus on finding regularities in the charts and base my predictions on whether the price will rise or fall on those regularities.
It could be coincidence that my predictions are continuously correct, but there might be times when I am continually wrong. However, I hope that moment of being continuously wrong does not come.
I cannot make a 24-hour prediction today. There seems to be no clear movement, and there seems to be valid reasons for both rising and falling in this situation.
The market is overheated due to ETFs, but I’m not sure how far this overheated momentum will go. Anyway, when the time comes, I’ll write again.
