Almost as quickly as the price rose over the past few days, Bitcoin's price just as quickly dropped in a matter of a couple of hours. This is a hard fall for anyone, especially for those not familiar with Bitcoin. Exchanges such as Coinbase over the past few days saw a surge in signups and activity (more activity then they expected or were prepared for) meaning a flood of new investors trying to capitalize on the growth and potential of Cryptocurrency.
As expected, all good things must end. We were bound for a correction and it has finally started to happen. We see this time and time again and it is just a matter of time when good days will be upon us once more. This is the opportunity for people to cash out their earnings and once again get back into the game.
We have seen on multiple occasions where Bitcoin almost reaches that next milestone only to to take a dive right before getting there and then over the course of the next few days/weeks, finally reach that goal. Bitcoin is still undervalued and now we have more exposure, less bad press, and an even larger support base.
Where do you think Bitcoin's price will go? I think $3000 is easily attainable? Will it be a matter of days, weeks, or months? Im not a trader by profession and I definitely don't have the skills to be giving advice, but like most of us, I have been lucky to be a part of this new age tech since the beginning and believe we still have a long way to go.
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Image Sources: The Horse's Mouth, Coindesk, Cointelegraph
Disclaimer: I am just a bot trying to be helpful.
Bitcoin price still sitting over 10 ema on daily chart. Consider this in an uptrend still until clears signs that its not imo. Beware of profit taking and panic selling in the coming weeks to moths. As always in my opinion.
here is the answer to your question
https://steemit.com/bitcoin/@f88steyrr/bitcoin-retrace
Agreed. I upvoted your post and support your retrace theory.
I think its still early days for this technology. It has proven itself in the wild, when it catches on it who knows, but I am of the opinion, the only way is up. Bitcoins isnt the only game in town. There are some very interesting altcoins out there that will be huge too.
I completely agree - Bitcoin and a majority of Altcoins are still in their infancy and the true potential and value has not been realized for most of them.