Bitcoin is still trading below $10,000 resistance level. Actually, more downward trend is expected this week if the recent prediction of an analyst is put to consideration.
Newbies in the crypto space might not understand the usual trend of BTC price, especially in the past. On this note, an analyst has itemised the past trend of Bitcoin price, comparing it to the present downtrend, with assurance that the digital currency will attain $20,000 mark again.
Bitcoin continues to bow to the command of bears in the last few days until now. The digital currency seems gathering enough agility to beat and maintain higher resistance and support levels respectively. BTC recorded its highest price so far for 2019, when it attained relatively $13,800 some weeks ago.
During the then parabolic price movement, $20,000 seemed to be attainable for Bitcoin at no distant time as claimed by some crypto pundits, but the subsequent twists have made the attainment of its price hallmark recorded in 2018 looks farther.
Bitcoin has since exhibited consistent price fluctuation, and has lost the vast gains it speedily accumulated over a seemingly short time. In the cryptocurrency sphere, some sets of investors and traders call for more dips, while others remain unmotivated at seeing Bitcoin price plunging below since no one is sure of how long it would dip. The investment profit is simply their priorities.
However, one crypto analyst recently reiterated that BTC price has to plunge down to the $8,500 price region before the price resurgence towards hitting $100,000 mark could surface.
Bitcoin is still revolving above $9,500 support level, with little or no indication of a notable surge anytime soon. At the time of filing this report, BTC is trading at $9,763.39, with 2.24% price plummet in the last 24 hours.
Analyst Recalls the Past Price Trend of Bitcoin (BTC), Says $20,000 Will Resurface
Pessimists around the crypto space believe Bitcoin is still heading back to zero. Such is probably impossible considering the global exposure it garners daily and the plunging in of the institutional investors. Its price will fluctuate, but has better chances of heading towards the ceiling in the market.
An analyst identified on Twitter as Sara recently itemised Bitcoin’s price trend since inception. She stated that some pundits with little hope in the crypto sphere doubted the possibility of BTC rising above $10 when it dropped from $30 to $2.
She also added the subsequent scenarios that played out alike; from the time Bitcoin was nothing to when it now tests higher prices. Conclusively, she bluntly said BTC will attain $20,000 once again.
She said “$30 to $2: “It will never hit $10 again” $150 to $30: “It will never hit $100 again” $1k to $150: “It will never hit $1k again” $20k to $3.2k: ‘’It will never hit $20k again” HINT: YES IT WILL!”
$30 to $2: “It will never hit $10 again”
$150 to $30: “It will never hit $100 again”
$1k to $150: “It will never hit $1k again”
$20k to $3.2k: ‘’It will never hit $20k again”
HINT: YES IT WILL!
— Crypto Sara (@AltcoinSara) July 23, 2019