Bitcoin Breaks out above $71K

It is rightly said that the Bitcoin market is completely unpredictable and we don't know how it is going to work and when it breaks out everything and no prediction works in the market. Yesterday was a great day when the Bitcoin price has broken out and it is currently trading at over 71K U.S dollars. Undoubtedly a great price mark and must have made the Bitcoin holders happy. Earlier it was moving around 62K US dollars and some people were expecting the price to come down further and could be around 56K. Although this was a possibility we can't say that this will not happen since it is a market and everything is possible.

Now Ethereum ETF approval is in process and the outcome is yet to come. ETF is something that can give more value to the Ethereum price in the market and we have seen how Bitcoin price was increased after the ETF approval. If Ethereum ETF gets approved then we can see a significant rise in its price and maybe it can cross $4000 or maybe it can be around 5000 U.S dollars.

Here is the list of the top five coins for the market cap and this list includes one stable coin USDT. Let's exclude that coin because that is not part of the discussion however if you look at the Bitcoin and other points prices then you will see that in the last seven days, every coin has given a significant value rise except bnb. The Bitcoin price has gone up by almost 15% whereas the Ethereum price is up by almost 25%. Solana's price is also up almost 25% and looks like Solana is going to touch $200 soon. I'm not sure what happened with B and B because the price rise is not much however Ethereum and Solana, both coins have done pretty well in the market in the last seven days.

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I expect that if ETF is approved for Ethereum then the 4K Price Mark will be easily possible for this and maybe more depending upon how much is the greed in the market for this coin. It's hard to predict the outcome as of now because no clarity has been provided and speculations are there but we can't rely on that. The overall target for the Bitcoin is 100K for this year and looks like this will be a possibility because we have more than half of the year left. I am not an expert but I expect that this is easily possible for Bitcoin and Ethereum also I am expecting a price of ten thousand U.S dollars in the next bull run. Again I'm not sure when this bull run cycle is going to start and currently we are in the stage where we cannot say it is a bull run but surely it is not the bearish trend in the market.

Still, it a time for us to accumulate as much as possible before the rally begins. Maybe buying at this price when Bitcoin has already crossed 71K US dollars might not be easy but if we consider a bigger game that the price is going to cross $100,000 or even more then it is a good deal. I also understand that there can be more coins offering better returns but Bitcoin is the safest coin in the market however diversification is surely required to reap the benefits with reduced risk appetite. Investing in multiple coins is a good idea which is called diversification because this way we reduce the risk and also open the door to better profitability.

I think it is still time for some accumulation before the rally starts in the market because once it starts then it will not be possible to accumulate more since the prices will be up. I'm buying through the dca because this is the strategy that works well which buys crypto automatically and keeps the price low through the average out. I hope the rally starts soon and the moment I see that things are on the bullish sentiment then I will stop the dca and will wait for the right time to book the profit. I don't know when it will happen but surely I will keep an eye on the market to track the movement.

Thank you

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