Few months before in Bitcoin’s history have been very fascinating to watch, especially when strop in on its price fluctuations as a meter of where it is going next. From about November 2017 to now, Bitcoin has almost come full circle as its price very high to $8,000 and beyond to $20,000 before falling back to the below $8,000 mark.
From last year November, when bitcoin holders were clapping its groundbreaking move beyond the $8,000 mark, to today, when people are fossilized that it will break down that price, we can see very different realization in the trader.
Although, traders in the know are less upset with these movements of price and are not letting the typical Bitcoin fluctuations get to them. Few are explaining the real-time price as still highly positive, especially if someone zooms out on the charts and looks at where Bitcoin is in the bigger picture.
There are others, though, that are aiming to market manipulation as a future cause for why Bitcoin’s price keeps molting its gains between $8,000 and $10,000.
Don’t Panic
People still are thinking that the price of Bitcoin will drop to zero, however that concern is waning somewhat, particularly with the adoption of Blockchain and cryptocurrency technology happening outside the money and commercialism realms. Amazon, Microsoft, the complete banking system, associate degreed even some governments have all shown an interest keep the technology around for an extended time.
The volatility of Bitcoin might not be as dramatic -- each up and down -- which are a few things folks have to be compelled to return to grips with, however, because the consultants on top of mention, there has still been positive growth over a comparatively short amount of your time.
Price is currently uncertain to which way it will move next. On the daily chart the previous 3 candles have been unable to present an indication for which way price will move in next. This can be very common when price reaches a major level, price often consolidates around that region for awhile and then shoot off in a certain directly after slowly building buying or selling pressure. I still believe we will see a move lower, potentially down to the $6,500 region before we see any sign of major support found in the market.