Is it the calm BEFORE or AFTER the storm: Bitcoin retracing at $17K!
Bitcoin is retracing after its biggest sell-off since last March, dropping from $19K to $16K, while the rest altcoins are healing after the huge massacre.
According to a recent survey, analysts indicate that these Ups and Downs happening in the Crypto Market will move the price higher by the end of 2020. Having a flashback back in January 2017 we can confirm that aspect, as Bitcoin had a huge price drop which lead to a fresh Bullish rally 2 months later.
Analysts were convinced that the primary cryptocurrency will surpass its last All-time High sooner than they first thought since BTC’s rise was so quick and topped at just 3% away from its old All-time High. Unfortunately, things are changing so fast and the King of Coins couldn’t maintain the price at $19,500 and lost $3,000 not in one day but just in a few hours.
However, the largest coin immediately retraced and currently sits at $17,000 (at the time of writing), with analysts claiming that the Bullish rally is not over yet.
In other words, this price drop is just another part of these “Ups and Downs” we mentioned before. Someone could say that Bitcoin is healing and getting ready for the big jump.
Big supporters of the Blockchain industry believe that having such drops is nothing more than healthy for the field, while others insist that these kind of “downs” are just another good opportunity for those who already HODL a part of BTC, in order to accumulate more, but even for those who are interested at investing in Crypto.
To sum up, Cryptocurrencies are playing a primary role at the Global Economy and many investors-analysts confirm that by saying:
There is still enough time to invest and win. Don’t waste your money on things you do not need or things you cannot really afford to buy!
In any case, one thing we feel confident about is that Bitcoin is going to surpass its last All-Time High by the end of December 2020. Or maybe sooner than that?
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