For the last 2 months, Bitcoin (BTC-USD) has been trading sideways; breaking past the $60K mark only to go back down soon after. During this period, there have been downward breakthroughs and upward breakthroughs. The $61K resistance took a while to break, as BTC was slowly consolidating over $50K.
If you are looking to get in a long, I would wait for the 24h candle to close. This candle would indeed confirm that we breaking out into new all-time highs. I wouldn’t be surprised to see the price go below $60K again in the next 24 hours; looking for a new floor. But as Coinbase goes public and the valuation surprises everyone, we could very well see Bitcoin hit a new, higher all-time high.
Watch for the FOMO, be wary of the FUD (Fear, Uncertainty, and Doubt), and learn how to dollar-cost average. Recently you might have heard about the immense amount of energy resources that the cryptocurrency ecosystem is monopolizing. But what they told compared it to is other, similar way of transferring money. Yes, Bitcoin mining can be dirty, and over in China, it certainly is. China is the largest producer and consumer of coal in the world and is the largest user of coal-derived electricity.
Read more : [https://decentra.news/bitcoins-upward-trajectory-accelerates-reaching-63k-but-will-it-hold/](https://decentra.news/bitcoins-upward-trajectory-accelerates-reaching-63k-but-will-it-hold/)
It doesn’t have to be this way: Bitcoin mining can be environmentally friendly. Don’t listen to the FUD, just buy and hold, and learn to dollar cost average. Stop watching the news and your portfolio all the time… The time will come!