The bitcoin price has dipped below the $6000, after initially dipping below the $6,000 mark on june 23.
.png)
On february, the bitcoin price recorded a major dump from around $8,000 to the lower end of $6,000, bottoming out at around $6,050. However, on june 24, the drop of BTC continued to the higher end of the $5,000 region, entering $5,000 for the first time since early november.
.png)
Assuming a $5,000 bottom for BTC, Where will it bottom out?
Investors in the public market, especially wall street, often develop strong intrest in as asset or a commodity that drops 70 to 80 percent in value in the short term because it represents a viable buy opportunity.
Mid to long term traders and investors are not momentum traders ; they aim for investment oppotunities that could generate strong gains in the next 12 to 24 months.
bitcoin has seen this exact movement in 2010 and 2014, and minor corrrections in between 2014 and 2018. Every correction has led BTC rebounding past its previous all time highs and establishing a new high at a region that is 100 to 300 percent higher than the previous region.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.ccn.com/bitcoin-price-hits-2018-low-at-5825-where-will-it-bottom-out/
i dont know about the rules of steemit
Welcome to Steem, @ravimalviya!
I am a bot coded by the SteemPlus team to help you make the best of your experience on the Steem Blockchain!
SteemPlus is a Chrome, Opera and Firefox extension that adds tons of features on Steemit.
It helps you see the real value of your account, who mentionned you, the value of the votes received, a filtered and sorted feed and much more! All of this in a fast and secure way.
To see why 2835 Steemians use SteemPlus, install our extension, read the documentation or the latest release : SteemPlus 2.17.4 : Two new features on Busy and bug fixes.