We have already seen some incredible swings in the price of Bitcoin since the start of this year. Somewhere before Christmas, Bitcoin price was going hard to hit the $20.000 mark but then it crashed below $7000.
Many experts believe that not all is lost despite the big crash. They say that this is just a process that Bitcoin is going through before it stabilizes. But every story has two sides. As you all know, especially on the crypto market, opinions are very divided. Some say that Bitcoin could reach $50.000 but then crash again.
A great deal of the declining in the price has to do with more people trying to sell Bitcoin and less are willing to buy it. We faced a massive sell-out and a higher demand for selling Bitcoins.
We all know that the major currencies are all following the path of Bitcoin so that is why we can see a decreasing trend in them as well. However, many believe that people are losing interest in Bitcoin and are turning to a cheaper, better-looking currency that is not affected by this behavior. The entire market is now in a phase of stabilization so it may take a while before we are able to see the aftermath of the crash.
There are plenty of things that can happen to Bitcoin because usually, people don’t really figure out how to determine the right value for Bitcoin. Opinions are divided. Many think that Bitcoin will reach an all-time low of $1000, but many believe that will also rise above $50.000 which is a pretty broad range of possibilities
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