There is a correction going on!!! BTC as well as altcoin hodlers should keep it going... it seems that the market trend is starting to get bullish that some analysts say it would even reach up to more than $100K by 2019. Would that be possible? Well, volatility is the other name of BTC. From around 2K USD before forking end of July- Aug of 2017 and afterwards, it climbed to more than $20K after several months. And the altcoins were at its high too.
It has been a topsy turvy crypto market since BTC declined in value last Feb of 2018. With all those sluggish sideways movement, day traders were so frustrated the last couple of weeks…and finally, it broke its resistance at $7K USD after periods of stagnation. Perhaps, the end of its winter sleep? It all changed in the last 72 hours of trading when it gained momentum adding more than $1000 to its value on Thursday. That was a big leap with an upward trend indicating a bullish market. Last Friday´s high was at $8,144 . BTC was traded with a heavy volume of $456,871,641 (26.41%) at Bitfinex and as of this writing, BTC is trading between $7,709 and $7,829 USD.
The market´s current correction has initiated the reversal and therefore BTC will be steadily up again. Crypto traders and analysts are predicting that probably around July, BTC will be strong as ever and altcoins such as Ethereum (ETH) , Litecoin (LTC) , Dash and Ripple (XRP) are following suit.
I have high hopes that BTC and altcoins will go higher and will reverse the market. I think that it´s high time for us crypto fanatics to start hodling again, get some alt coins now and wait for the market developments . Another surge will surely come our way so you better watch-out and get your funds ready, "invest only what you can afford to lose"!
DISCLAIMER
The contents in this blog are the opinion and thoughts of the author and are only meant as information to its readers. Investing in crypto currencies is dangerous because of the volatility of the crypto market....so get some professional advice from a trader before investing.
Thank you for reading.
I am part of the Crypto Enthusiasts Group at Steemit PowerUp.Ph