This week has witnessed tension in the world of Bitcoin. For the most part, the currency has been on a relative bull run since this price observance series began. Users witnessed a bit of a drop amidst worry regarding claims made by a certain Dr. Wright, but afterwards, the price found its way back on the rise.
Also read: Bitcoin is Back: Price Rises Nearly $15, Returns to $460
Bitcoin Price Movement Slows Down
For the first time in a while, bitcoin has hit a bit of a stagnant position. With a $4 drop at press time since our previous price piece, it’s safe to say that not much is in the works, and those of us who recently experienced terror or fear are taking this as a potential moment to ease the adrenaline in our systems and enjoy some much-needed relaxation.
Right now, the sentiment regarding where the price will go next appears to be split right down the middle, with some confident it will explode in its trek up north, and other feeling the coin is destined for a spill. YCombinator president Sam Altman, for example, believes bitcoin is about to enjoy a particularly high note in what he feels will be a glorious future. The Silicon Valley entrepreneur explained on Twitter:
“I am currently the most bullish on bitcoin I’ve been, and all my bitcoin friends are the most bearish. Hmm.”
Others, however, feel the strains of positivity leaving their mindsets. As one source states:
“The market is struggling to make a new high since last week. Could this be the final push to resistance? At the time of writing the push has not produced a new high (since last week) in any of the exchange charts… Traders would be prudent to wait for the market to either establish trade above the resistance zone – or below the rising trend line support – before opening a position.”
The lack of certainty regarding bitcoin has got some of us sitting on edge. By now, however, we should be completely aware that bitcoin is not always predictable, and could change at virtually any moment. The simple fact is that if we haven’t gotten used to this, it’s probably time to turn away and never look back. But many of us refuse to do so simply because our trust for bitcoin is there and refuses to leave. Sure, certainty is never an option, but those of who deal in bitcoin on a regular basis are fully aware of the safety, independence and other benefits it wholeheartedly offers, and we can only stare upon bitcoin’s future with wide, proud eyes and see a large, luminescent glow emerging from the end of the winding tunnel.
Do you foresee a drop a rise in the btc price price? Post your comments below!
Images courtesy of leaprate.com.