End of Bitcoin Dropping - According to the new data that we saw in Coinmarketcap, Bitcoin has shown a sudden and unexpected shift in the crypto market, where the price of Bitcoin has begun to survive its fall and now it rises once again. This number one currency has grown to 8.29% at the time of writing, with prices now approaching $ 4,400.
The new changes have confirmed once more how can Bitcoin do such a thing? and investors are still trying to find the source of this change. Despite the fact that Bitcoin has experienced a lot of ups and downs in 2018, that he has experienced two very fatal freefalls, and almost a full year in a bearish condition, but he can still maintain his position to become the number one most sought after digital currency so far .
Bitcoin continues to dominate the market in terms of value, market capitalization, rank, age, and several other aspects. Meanwhile, investors ask another important question, namely - how far can Bitcoin survive in these conditions?
Potential That Is Still Visible in Bitcoin
As stated earlier, Bitcoin is the most volatile cryptocurrency. It started this year at a price of $ 20,000 and nearing the end of the year, it dropped to $ 3,700. While many predict that BTC in the long run will reach a value of $ 20,000 or more by the end of the year, seeing the current conditions is unlikely.
Investors and experts are now reminded that not many are sure when it comes to Bitcoin and the price can easily fall free, and then shift to unexpected surges, everything can happen in an instant. Considering that the year will be nearing its end, and the tendency of cryptocurrency ‘to rise for no apparent reason throughout the year, it is currently unknown when this wave will stop.
This may be a short-term price correction following the BCH sell-off and hash war, or maybe this is the start of the bull run that investors expect since January. At present, it is believed that this is the first real price surge since July. Analysts also stated that constant reflections showed strong demand for coins. However, if it falls once again, the downward movement will be very hard.
However, if the coin manages to maintain the current trend, there is no way to predict where it will end. The only thing that is certain in this scenario is just waiting.
Based on the history of the coin, the analyst has set many points whose value is expected to rise or fall. The price of $ 3,700, where the coin stops from its fall is one of the points mentioned by analysts. When prices fall, these prices are expected to soften the fall and try to keep the coin from moving further. When prices rise, these values are resistance that must be broken. The latest resistance that BTC has achieved is $ 4,150.
At present, it closes the gap between current prices and $ 4,400, and after that it will be a guess for anyone in the crypto world. However, experts say that considering BTC activities in the past two weeks, breaking through these barriers will be a difficult task.