Some hours ago, Bitcoin lost its $10,000 support level, which is obviously crucial for its further growth. BTC has quite experienced reluctant growth lately, dimming the hope of a bull run that is capable of pushing its price beyond record highs.
Despite this obvious inconsistency, Ryan Selkis, Messari’s founder has recently claimed that recent drop of BTC to 4-digit price level could be the six to seven last time of buying the digital coin below $10,000.
Bitcoin’s Recent Growth Trend Compared to other Cryptocurrencies
High sovereignty of Bitcoin in the crypto market was slightly defiled by the significant price uptrend underwent by altcoins about 48 hours ago. This event saw XRP’s price surge above $0.31, and Ethereum (ETH) rocketed, breaking above $200 resistance level.
The price rally majorly impacted some top coins like Stellar and XRP. Stellar Lumen (XLM) experienced an unusual price increase of about 40% 2 days ago.
Prior to the Altcoins’ price rally, Bitcoin was dominating the ecosystem with a market capitalisation of over 70%. However, the joy of the 70% historic dominance became short-lived as soon as Altcoins’ price spiked.
Subsequently, virtually all digital currencies, including Bitcoin underwent a huge price plummet, and BTC, particularly, lost about $500 in a very short interval. Only Stellar Lumen (XLM) stood tall among its contemporaries as at that time.
A couple of months ago, when Bitcoin tested 5-digits price region, some crypto analysts and pundits envisaged the possibility of BTC not trading below $10,000, till it defiles the ever challenging huddle of surpassing its highest price ever recorded, $20,000.
Since the recent notable plummet of the leading crypto, it hasn’t initiated any distinct resurgence, however, a brief upsurge was experienced few hours ago. At the time of filing this report, BTC is trading at $10,196.63, with about 3% price uptrend in the last 24 hours, after been traded at figure value yesterday.
Messari’s Founder: This Could Be Six to Seven Last time of Buying Bitcoin below $10k
In the last few months, after Bitcoin price rose above $10,000 and embarked on an uptrend to record its all-time high, BTC has since dropped below 5-digit price level for 6 or 7 times.
Some analysts believe that bearish BTC is a rear means to accumulate, while some would be left out of taking the advantage due to FUD.
As other prominent crypto commentators have reiterated, the founder at Messari, a channel providing top research, news, metrics and live data of crypto, Ryan Selkis, recently stated that seeing Bitcoin below $10,000 now could be one of the last time of buying the digital currency at the price level.
this may be one of the 6-7 last times you'll be able to by sub-$10k bitcorn.
— Ryan Selkis (@twobitidiot) September 19, 2019
Such statement has been said over and again, but BTC has constantly failed to live in line with the raised hope of its fans, especially the long-term investors. Could Ryan Selkis sentiment become a reality? Time will do justice.