The Current Cryptocurrency Market is very Interesting to watch. I don't know how if you guys have Noticed it but the Cryptocurrency market Cap is now Sitting at around 500 Billion USD.
I know that it's far from it's All-Time High of 830 Billion USD but you have to consider the fact that during the recent Downtrend the Total Cryptocurrency Market Cap fell down to about 270 Billion USD. Considering this Factor we are seeing a Steady influx of Cash into the Cryptocurrencies.
Today in the Morning IST(Indian Standard Time) the Price of Bitcoin broke the 11000 USD mark for a short period of Time and then it pulled back to 10340 USD and is now again on its way to breakthrough 11000 USD. In fact, I wouldn't be surprised to see Bitcoin over 11000 by Tomorrow.
What do you Guys Think about it?
Comment Down Below.
Hope to see You Guys in my Next Post.
BTC is so close to 11k that it would not surprise me if it got broken today.
however, I would like for BTC to chill and not increase too much over the next week to 14 days. The reason for that is if it continues to go up like this we will be sitting with a huge correction incoming if we look at past charts.
thank you for the article.
Yes you are right in that aspect but that is how the Market works.
Correction always sets in.
But you do have a point. As when Correction sets in some Newbies sell a lot due to FUD which results in a bigger Correction than it would have been.
But the Pace at which BTC is rising it will need at least another Month to reach it's ATH.
Now it will recover... It will come back tonits previous position..
Yes we are all hoping for that.
It might not be an abrupt Bull run but Slow but Steady always wins the Race.
Things are looking good after that much needed correction, the way the market shot up so fast in Nov and Dec, I knew it had to pull back at some point. Am sure it will creep back up towards 1 trillion and beyond within this year.
It is quite Possible.
The way it is recovering buddy that is indeed a good news to us all !
Hope it gets to get its glory again ;)
Yes we all hope it too I am holding on my BTC untill it reaches 20k.
Will sell some after that mark not before that.
I wonder what the price of Bitcoin would be when the Marketcap reaches 830 $ billion again . What do you think @arunava ?
I guess it would be close to 20K as it was before.
Thanks for this update. Really nice post!
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