When will Bitcoin stop trading (When will Bitcoin drop in price)?

08/17/2023 14:31 • Metaverse Matters • 69 views

When will Bitcoin stop trading? According to btcmanager news, Bitcoin has been trading for over a month. In the past 12 months, there have been multiple cases of significant market downturns due to price fluctuations, with the most severe one occurring around 2:30 am on March 15, 2019. The Bitcoin market experienced a sharp drop, reaching as low as 43,000 USDT, and then continued until around 6:30 am this morning, touching near 58,000 US dollars again.

When will Bitcoin drop in price

Editor’s note: This article is from 8btc news (ID: bitcoin8btc), authored by Kyle, authorized by Planet Daily.

After a more than 10% increase in Bitcoin’s price in the previous quarter, there has been a decline, possibly due to the market being overly optimistic about Bitcoin’s price movement. However, as the market gradually matures, people have begun to worry about the downside risks of Bitcoin.

According to the latest data from the cryptocurrency analysis platform Glassnode, Bitcoin’s price has dropped by more than 30% since the beginning of this year.

Historically, investors know what happens when Bitcoin falls below $10,000. This is often caused by changes in market sentiment – traders buy or sell when the price approaches $10,000. If this pattern continues, Bitcoin will become worthless in the short term. Why does this happen? First, because most people have purchased a large amount of Bitcoin in the market, resulting in a significant downward trend in price; second, Bitcoin itself is a speculative investment as an asset, so it is necessary to consider Bitcoin as an investment tool similar to gold. But in reality, it is not, it is a means of storing value or an alternative investment tool. In other words, do you think the current market is going to crash? I don’t think anyone can accurately predict when Bitcoin will drop in price. Currently, Bitcoin’s volatility is different from other digital tokens. They have not undergone any substantial changes and are only temporarily in the speculative stage. Moreover, there are still significant bubbles and problems in these newly entered markets. Once Bitcoin does become a reality, it will have a huge impact on the future.

What we can foresee is that Bitcoin is about to enter a “death spiral”. How will Bitcoin’s price decline? If Bitcoin’s price continues to perform well and surpass its historical high, its potential price target should be achieved before October 2020. Of course, it may also be possible to achieve it by the end of next year. If Bitcoin returns to the position of around $9,000, it means that Bitcoin may stabilize around $9,500 to $9,800 again, and then quickly return to $5,000. In other words, can Bitcoin’s price maintain this position? I believe this bull market will not end soon. However, some analysts predict that Bitcoin’s pricing mechanism will be widely applied after the halving.

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When will Bitcoin stop trading (When will Bitcoin drop in price)?

When will Bitcoin drop in price

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