Bitcoin: Correction continues while hopes for a $20,000 break are decreasing due to BTC’s unstable price movement

The King of Coins dropped again below $18,000 and currently trades around $17,680 while the total Market Cap lost almost $20 Billion going from $550 to $530 Billion.

Last few hours, Bitcoin recovered all the previous losses leading the price again over $18K. Nevertheless, the moments of joy didn’t last for so long for the supporters as the primary cryptocurrency plunged below $18,000 and marked its lowest price level at $17,600 since November.

Price correction for BTC and the rest Altcoins?

We have mentioned in the past price “correction” which needs to happen after a huge rally in order to help people who are new in the Blockchain industry to buy cheaper or those who are already involved with it, to accumulate more and bring a fresh new start. According to this, every time that a new price drop appears, analysts are faithful naming the current situation as a “correction” for the assets or in other words the calm before the storm.

However the largest Cryptocurrency in the world has already lost 10% of its current value due to the price correction which leads the experts to indecision. Many analysts state that if Bitcoin keeps struggling below $18,000 then the hope for a new All-Time High record by the end of 2020 might disappear as there are not any traces for potential $3,000 gains.

Bitcoin resistance levels

Bitcoin’s price movement seems to be unstable having many Ups and Downs between $16–18K. However if the world’s largest Cryptocurrency somehow manage to break above $18,500 then the next resistance line will be at $18,800 before it reach the psychological level of $19,000 which will also be the positive signal of the road to $20,000.

“InstaSwap is a Non-Custodial Exchange Platform that allows users exchange directly at market price within minutes.

If you want to know more about us visit our website: www.instaswap.io”