Bitcoin prices drop lower and a lot of cryptocurrency traders did not like it

[Adewale Stock]

There was a news that the price of Bitcoin drops a month ago, it dropped by 10 percent and many people were not ready for it's effect on the cryptocurrency world.
A lot has happened to bitcoin prices over the years, at some point it was over $20,000 per bitcoin but now the price has dropped to around $10,000. As we are writing this article, Bitcoin is trading at $10,241.38 with a daily trading volume of $50.4 billion. The flagship crypto is down -10.2% in the last 24 hours and this may mean that someone big is selling a lot of bitcoin, as a result, the price dropped. It has a circulating supply of 18 million coins and a max supply of 21 million coins.

Those who believe that Bitcoin price can still soar are expecting it to be at this range of $10,000 and $10,500 price levels. It’s extremely important to note that any breach below the $10,000 price level could send the price of Bitcoin tanking to the $8,000 price support level.

is i time to buy bitcoin? well, no one can really say until there is a much more bigger market for it.

 

[Adewale Stock]

A lot of cryptocurrency traders does not like this, they want bitcoin to keep going up and up so they can make a lot of money. What do you think will happen to bitcoin in the next couple of years?

 

[Melvin]

Bitcoin like any other crypto coin is a highly volatile digital asset and the fact it became very popular after it was created built the mind set that its price is most like to be increasing.
And i said these crypo-coins can never be stable, hence are unpredicted. Explaining my claim here Adewale Stock is pretty much the recent dip and as you said investor did not expect it.
My thoughts are not necessaryly revealing the future state of bitcoin will be good because these coins are unstable, unpredictable even with all the analysis but my thought reveals that the coin has a 50:50 chance of rising and falling in price.

 

[Melvin]

But rising and falling of prices is normal in the crypto market. In my view it actually encourages traders to start buying more volume of bitcoins as progressive price hikes all the time may discourage them, because traders will not have much bitcoin, hence low returns when the price dips after the progressive hikes in price.

 

[PenelopeRamping]

Now it's all good with Bitcoin

 

[Solider]

Now bitcoin is more stable, but in any case there is a risk, in my opinion, which can lead to a sharp drop. Even today I watched the telegram channel with crypto, for me this is the best telegram crypto signals, and there I saw that the price of bitcoin is already 56 thousand dollars, but its price was 70 thousand dollars. It fell very sharply and there are already $ 650 million of losses, as many people bought bitcoin at a price of $ 60-70 thousand. But I think this is not a cause for concern, because the price will return, and there are some estimates that Bitcoin will be worth 100 thousand dollars before the end of 2021 .