Bittrex Exchange
Yesterday about 12 hours ago BTC's price went down to not really an unusual plunge from $11,700 down to the sub $11,200 range because the said King of Crypto had a history of even going down vertically in thousands of dollars in a matter of hours, but anyway now it is just playing around about a hundred dollar about that week's dipped price. A very good time to buy still once again even up 'till today or even in the next few hours because the price is still going sideways denoting a support price at this current price level and is again inching on its another way up to possibly visit the $12K level again. or over until most speculators and traders decided cumulatively agreed based on their trading behavior that the price is no longer at $12K dollars but higher.
So it is just another wait until Bitcoin goes over both the speculated and predicted price levels but other people are speculating in the opposite way for their own and almost equally fair price prediction so that they could be able to buy more. These traders are the ones who sold their BTCs before the price had jumped the 11K levels.
Nobody really is so sure on how these cryptocurrencies would behave since some entities out there can fashion a bad news about a certain Altcoin and especially Bitcoin so that they would cause an alarm to the public especially if a person involved really is famous or popular an can really influence a mass of traders who have a weak hand to sell thereby causing a cascade or domino-effect of a sell-off.
Anything is possible so to speak particularly if the manipulation is rampant and it is still is in the crypto space. That is why Chanlink went up to almost $20 dollars per $LINK coin because of the rumors behind what LINK has to offer, not that it is being manipulated but because of a good news behind that coin which is offering a good use case for that matter. In the contrary if a coin will get a bad news like getting de-listed, or a failure to give it updates, etc., then it will cause a devaluation of such crypto until if a stroke of luck or it gets another sort of publicity then it could very well rise-up again with its value.
But for BTC the fundamentals never changes except the fact that it is for now could not be utilized like debit or credit cards because unless the store owners and buyers are willing to sit still for even hours until the transaction is already at least confirming in the blockchain. It remains to be a store of value but it doesn't mean that it won't positively valuate, in-fact despite some big people belittling BTC in many aspects saying it is a "money out of thin air" (as if the dollar is not), or it is just a dog crap, and so, and so, BTC still goes up and up all because many people believe about its utility for humanity, that it gives people freedom and a sense of security among many reasons, the reasons where one can escape from the bounds of the state who controls people's liberty and freedom regarding their wealth which should always be in the hands of its owners safe a secured.
Disclaimer:
All the statements here are only from the author's own opinion, philosophy, expectations, and judgement call and not necessarily as facts and should not be used for anyone's own financial decisions. Please do your own due diligence about the subject of the matter and research before investing in high volatility, high risk, and high reward nature of cryptocurrency such as Bitcoin and Altcoins.