Bitcoin Price “settles down” after an early Bull run in 2020

Steven ZeniosSteven Zenios15/01/20203min
A prolonged bull run took Bitcoin to $8,785, at time of writing the article, gaining more than 20% since the start of 2020.

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.

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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Steven Zenios

Steven Zenios

Steven Zenios is a young author and designer with strong passion. A specialist in web design and development, blogger, author and Blockchain entrepreneur. He is the CEO of Web Theoria, a digital agency based in Cyprus. In the last 10 years, he has vastly improved his knowledge and skills to produce great pieces of work, both in the web design industry and article/blog industry. Contact Steven at +357-22029786 ext: 6120 or by email at szenios@highworthcitizen.com for editorial related questions.



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