Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: jings009 on October 12, 2018, 11:15:32 AM
-
After more than half a year of price drops and losses in value, Bitcoin’s price has finally demonstrated signs of stability. For weeks, Bitcoin managed to remain above the price of $6,550 per coin, which was followed by a small price surge that has allowed the coin to reach $6,600.
Not only that, but Bitcoin’s volume also saw a 12% increase that has taken it from $3.2 billion to $3.6 billion according to CoinMarketCap. While this state of the market did not include all the altcoins, with some of them even experiencing losses, the situation regarding Bitcoin did look promising.
However, the new situation has changed that, as both investors and analysts woke up to the news of crypto prices going down.
Bitcoin volume predictions
Cryptocurrency analysts around the world have been predicting that the recently-balanced situation regarding Bitcoin and many altcoins will not last. While some believed that Bitcoin volume will go up, others have been claiming that it will drop once again, as it has finally happened.
At the moment, Bitcoin has managed to drop below what was recently believed to be its bottom, with a new price being at $6,297. Instead of reaching milestones such as $6,800, and then $7,000 mark as many have hoped, BTC actually dropped by around 6%.
For a while, Bitcoin has been showing signs that it is ready to grow once more. However, the trouble once again lies with the market, which has followed a recent drop in bonds and stock markets. In the meanwhile, experts warn that the market is still not done with the new correction.
Read more at http://globalcoinreport.com/bitcoin-volume-new-bull-run/