Reaching a high of $1890 was sure to bring volatility and the following correction.
Many traders this past Friday predicted the price to drop lower into the $1400-1300s.
The downtrend has led to a slight comeback into the $1700 range, which is an excellent sign for global trading markets. The possibility of approaching new all-time highs is still probable in the near future with the way bitcoin’s price has been trending.
Bitcoin buying pressure is keeping the price above the $1700 range, and a bigger push could get the value back into the $1800s. Volume is a bit lower than the past two weeks with $700 million traded daily so exhausted traders are likely resting and watching on the sidelines. Many people agree the subsequent dip after closing in on $1900 wasn’t that bad as the price was destined for correction after moving so fast.
Reaching a high of $1890 was sure to bring volatility and the following correction.
Many traders this past Friday predicted the price to drop lower into the $1400-1300s.
The downtrend has led to a slight comeback into the $1700 range, which is an excellent sign for global trading markets. The possibility of approaching new all-time highs is still probable in the near future with the way bitcoin’s price has been trending.
Bitcoin buying pressure is keeping the price above the $1700 range, and a bigger push could get the value back into the $1800s. Volume is a bit lower than the past two weeks with $700 million traded daily so exhausted traders are likely resting and watching on the sidelines. Many people agree the subsequent dip after closing in on $1900 wasn’t that bad as the price was destined for correction after moving so fast.