mich-bit39|ICO-ana1

A lot of people are wondering about the future of Bitcoin and the BTC price in general. Many are pointing their fingers towards the cryptocurrency as one that ‘has been down for some time now’ and one that is under the $10,000 gap for long. However…

If you see it, over the past couple of weeks, the price of Bitcoin has been rising. From below $6,000, Bitcoin is now trading at $9,300 with a market cap that is constantly increasing.

The truth is…

Bitcoin has had a rough time since the start of this year. More specifically, the price dropped this week too – but now, it again crossed the $9,000 gap. As you all know, the market is extremely volatile which is to be held responsible for the ups and downs on a regular basis that Bitcoin is undergoing. As you can see (here) on the charts, one positive thing is that the price hasn’t dropped below $6,000 and there are a lot of efforts to reach at least $12,000.

We did, however, see attempts of pushing the price last week but that was unfortunately unsuccessful. Also, while all other cryptocurrencies hit the path to recovery, Bitcoin was still going down. Another fact contributes to this happening and that is the growth of new and alternative cryptocurrencies that hit the entire crypto market. It is very unclear and hard to predict but from what we can see on the charts, we see that dips in price happen almost every day. It seems that the price may be stuck sometime between $10.000 and $12.000 before we see it going rapidly high as we did last year.

There are some positive perspectives, however. Despite its current price, Bitcoin is still the world’s first cryptocurrency with a generation over $7.40 billion in just 24-hour trading volume. The negative part is that the most market activities are connected to selling it rather than buying it. Some investors even believe that it could hit $25,000 by the end of this year and $250k by 2022.

We can’t know for sure what the future holds for Bitcoin because of the high volatility on the market in general. Making any kinds of predictions for Bitcoin is always a difficult task and this year is no exception.