During the past weeks and days, Bitcoin's market price had tremendously decreased in a series of market crashes. A few weeks ago, Bitcoin breached the $5,000 mark and reached a new all-time career high of $5,005+. However, after reaching the summit, analysts predict a series of price corrections in the coming days and weeks.
Unluckily, these predictions were actualized in the past days wherein a series of market corrections and waves happened. Bitcoin is now heavily trading at around $4,175 in various digital currency exchanges, which is 17% lower than its previous all-time high. Some analysts even predict that this series of decreasing movements is the start of a cryptocurrency bubble burst.
Based on the graph above, three waves of market correction have already happened and it is expected that a fourth wave of market correction will happen in the coming days. Also, a fifth wave is also expected in the coming week wherein there is a possibility that Bitcoin may trade below the $4,000+ mark.
Better yet, cryptocurrency investors should always weigh their options and risks if it is still better to hold these investments or sell them off. For very aggressive buyers and those who have kept their hopes high, you can still buy some Bitcoins since these are only market predictions and may not be actualized in the coming days.
Also, Bitcoin is not the only cryptocurrency which suffers a series of market corrections. Ethereum, Litecoin, and others also suffered the same fate.