Bitcoin Price Is Not Going Up Without Experiencing Corrections Along The Way

Bitcoin, the most popular digital asset, is expected to keep growing at least to $15,000. Although individuals and investors are very excited about it, the virtual currency will clearly be experiencing volatility during the way. The digital currency could fall as much as 30% compared to past experiences before finally reaching $15,000.

  • Bitcoin could reach $15,000 in the near future
  • However, the way up to that price level might not be easy for the digital asset

Bitcoin (BTC) has recently surpassed $10,000 and the virtual currency could keep growing in the future. Although there are many analysts that predict Bitcoin to continue its upward trend, there are going to be some bumps across the way.

Bitcoin’s Road To $15,000 Will Not Be Easy

Bitcoin and other virtual currencies have been in a bear market throughout 2018. This was something that affected the whole space and that didn’t allow projects to continue expanding. However, things seem to be getting better and better for Bitcoin and many other digital currencies.

In 2017, Bitcoin grew from around $950 to $20,000 by the end of the year. However, the way until reaching this price level was not so easy as many suppose. In 7 months of the year, the virtual currency experienced price retracements of over 30%. In September 2017 after China announced they were banning crypto trading activities and Initial Coin Offerings (ICOs) on its territory, the price of Bitcoin dropped over 40% from $4,970 to $2,980.

That shows that Bitcoin is going to be experiencing these price drops and corrections during the next bull market as well, even if the virtual currency surpasses $15,000. After November 2017, Bitcoin surged to its highest price ever and then it fell down to $6,000. As mentioned before, 2018 was not good for Bitcoin, and as the virtual currency fell, there were moments in which the market reacted positively for a short period of time. Nevertheless, these movements were not enough for Bitcoin to recover, and the bear trend continued until Bitcoin dropped to $3,200 in December 2018.

Bitcoin could now be dropping under $10,000 and be traded close to $7800 to be close to a drop of around 30%. The digital currency will be testing its new resistance levels and it is possible to see a consolidation period before a new price increase to $15,000 or even higher.

According to Tyler Winklevoss, one of the two Winklevoss twins, Bitcoin is expected to reach $15,000 now that it has surpassed $10,000. Other individuals such as Thomas Lee suggested that the most popular cryptocurrency could end this year with a price of $40,000.

Finally, Peter Brandt, a recognized analyst and chartist, wrote that Bitcoin could eventually hit $10,000 in the future. The digital currency is also experiencing its fourth parabolic phase since 2010.

About it, Mr. Brandt commented:

“No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other.”

At the time of writing this article, the most popular virtual currency is being traded around $10600 and it has a market capitalization of $188 billion. The digital asset was also traded above $11,100 for a short period of time after the crypto market entered a FOMO (fear of missing out) stage.

Due to this massive price increase, other digital currencies in the market are also experiencing gains. Bitcoin Cash (BCH), for example, is growing 9.81% in the last 24 hours. Ethereum (ETH), XRP and Litecoin (LTC) are growing 4.16%, 7.11% and 3.04% respectively during the same period of time.

Bitcoin’s price is $9,131.81 BTC/USD exchange rate today. The real-time BTC market cap of $168.34 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $3.6 Billion and live coin value change of BTC -0.94 in the last 24 hours.

Live Bitcoin (BTC) Price:

1 BTC/USD =$9,131.8085 change ~ -0.94%

Coin Market Cap

$168.34 Billion

24 Hour Volume

$3.6 Billion

24 Hour VWAP

$9.15 K

24 Hour Change

$-85.4916

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,479FansLike
2,795FollowersFollow
4,199FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin Isn't Budging Because Altcoins Are Out-Trading & Outperforming it

2020 started out bullish for Bitcoin, which went to $10,500 in February, but it didn’t stay that way for long. In March, BTC crashed...

Brave Browser Adds Gemini Crypto Exchange Trading Widget On Its Nightly Version

Gemini exchange announces a partnership with a privacy-focused browser, Brave, to integrate a trading widget app on the Brave Nightly version. This provides a...

Twitter Hacker Managed to Scam Only 12 Bitcoin After Duping Major Accounts Using ‘Internal Tools'

A security incident on Twitter duped businesses and people into sending at least $120,000 worth of Bitcoin to an anonymous online wallet, half of...

Huobi Becomes The Latest Exchange to Enter Bitcoin Options Market With a Q3 Launch Date

The bitcoin derivatives market has seen some astonishing demand this year with the trading volumes soaring all-time highs. The derivative market that primarily dominated...

Kingdom Trust Nominates Fidelity Digital Assets For Bitcoin Custodian of Its Choice IRA's

Kingdom Trust has appointed Fidelity Digital Assets to power its recently launched Choice retirement account, which features an array of assets including Bitcoin. Fidelity will...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today