Bitcoin dominated the crypto market without any doubt. Nevertheless, also other crypto-currencies are always popular. According to a report published by a global Broadcasting media house, the Bitcoin price in the short term, up to $ 6,500.
It didn’t take long, as the price dropped recently from 9.320 USD 7.350 USD. This was a significant decline. At one point it fell below $ 7.300. Several factors led to this Situation, we hereby want to introduce you to some of them.
Lack of Momentum
2018 has been a difficult year for the largest crypto-currency. BTC has so far experienced three major price corrections.
The first correction was made on 7. February, the second on 10. April and the third on 25. May. In the case of the first correction of the Bitcoin exchange rate fell from 19.900 to 6,100.
This corresponds to a price decline of more than 69%. The second correction was a decrease of 46% from 12,000 to 6,400 USD. In the third correction, the price fell by 28% (almost) of 10,000 to 7,200 US dollars.
The first correction lasted for about two months, during the last two corrections about a month to complete. On average, Bitcoin has experienced a five-month price movement. It is likely that the price will recover in a few months. Therefore, it is currencies of other Crypto in the long term, competition is fierce to supply.
Despite the positive development plan, it is important to understand that Bitcoin and the entire crypto market is currently in a bearish market.
Consequently, analysts like Willy Woo have predicted that BTC can fall up to $ 5,000. But this is possible only if the crypto-currency falls under the $ 6,500 mark, and the $ 6.800 brand no price support. At the Moment, it is unlikely that Bitcoin falls below the 6,000 $ mark.
Altcoins and Tokens
To invest In a difficult Phase in an unpredictable market in alternative Tokens and crypto-currencies, is equivalent to the forced trade. This is due to the fact that tokens have been moving the price up and down. You are exposed to a massive price movement, the movement is similar to that of BTC.
Ethereum and Bitcoin currencies (in comparison with other Crypto) a relatively stable price in this bearish market. Quite the negative price movements, the two could not avoid, however. Other crypto as Zcash, ICON, 0x, and WanChain technological developments and other Upgrades, had currencies price experienced however, still losses in the last couple of weeks.
Currently, it looks as if investors and traders have a great selling pressure. Experts are of course not completely agree, many see limited potential for further large price losses and keep a price lower than $6,000 for Bitcoin to be unlikely. In any case, few believe that the total market capitalization of crypto-currencies under the $300 billion Dollar brand.