Simultaneously, altcoins are increasing in value also as we speak, ultimately improving the total market cap and adding approximately $20 billion in the last day.
The price of Bitcoin seems to be floating around the $8,700 – $8,900 mark showing more stability than other times.
Predictions state that the current Bitcoin price is not actually a “comeback” or reason for us to believe it will surge to greater numbers, but it’s a beginning. According to analysts, predictions and enthusiasts, Bitcoin may fall or range trade at its current price for a while or may even dip lower before it reaches the $10K mark.
Additionally, professionals in the Crypto world suggest that a pullback is probable in the short-term, but the mid-term trend still seems to look as it will be bullish.
RSI bear div
likely chill for a bit here pic.twitter.com/pyt3jx8Qe8
— Josh Olszewicz (@CarpeNoctom) January 14, 2020
Wall street trader Tony Vays suggested that BTC’s movement for this long is a logical reason for the crypto asset to cease in the short term. There were also suggestions by other crypto traders that,
the end of a re-accumulation phase may be near, with upside more likely to characterize the coming months.
Although the events show that an incoming pullback will likely happen, we are to expect a more upside trend in the very near future, seeing Bitcoin and other coins gaining more value and building the total market capitalization further.
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