This week is quite tough on bitcoin and all other coins are declining. Bitcoin is showing a deadline too and taking one step backward from $11,000. Currently, bitcoin is standing at $10,147 with 4% minus in value.
Bitcoin is known as one of the giants of the market in terms of value but it doesn’t mean that bitcoin has all the features clients are looking for which is the reason why the exchange of bitcoin is less as compared to the other currencies. Bitcoin is slow as compared to the other cryptocurrencies and take more time in handling transactions.
This morning market was hoping that maybe bitcoin is going to climb up and will successfully get some gains but unfortunately bitcoin is not moving forward. If bitcoin is going to sink then the first stop should be $9800 and maximum it can drop to the level $9500 in the current situation. Traders are still taking interest in bitcoin, thanks to the volatile nature of this cryptocurrency which can offer quick profit to anyone who is investing maximum money in it. If bitcoin is going to reach to required target then it can achieve $13,000 in one month.
If there will be maximum trading in favor of bitcoin then it will be possible to reach the new heights in no time. If bitcoin will start climbing on the market then other cryptocurrencies like Ripple, Ethereum and Litecoin will start having some support and overall market cap of cryptocurrency will be increased.
Last week bitcoin was touching the heights of peak fir the first in 2018. Bitcoin was crossing $11,000 and people were expecting it to grow to $13,000 but currently, things are bit different in the market. It is expected that bitcoin is going to grow in 3-4 days once this troubled week will be over.