Today we’re looking at a healthy bull run for Bitcoin – at least here in the first half of the day. This comes after a quick breakout earlier in the week which resulted in a whole lot of altcoin drops – thanks to those with weak hands and little understanding of how quickly this market turns around. Remember, this isn’t the stock market. We’re talking major changes in weeks or days, not months or years.
Bitcoin Rubber Ball
For those just joining the Bitcoin party: In mid-December the price of Bitcoin hit an all-time-high (ATH) of around $19,890 USD. Pullback occurred quick, altcoins rose, and BTC entered a failing wedge – which then turned into a reversal, and we’re back where we are now. In short: Investors in Bitcoin are in good shape.
It’s highly unlikely Bitcoin USD price will hit $17,000, but a move to $15,500 before half the day is over might very well mean a run up to $18,000 by the end of the week. But, as always, neither I the author of this article nor SlashGear is in a position to offer any sort of investment advice. This article is not intended as such, and all readers should consult sources other than SlashGear for any sort of financial and/or investment advice as such.
Altcoin Bumper Bowling
Those already in Bitcoin that’ve gone a step further and invested in altcoins might’ve panicked over the past couple of days. Those insightful enough or obsessive enough to have seen the Bitcoin jolt upward would also have mentally prepared themselves for the possibility that altcoins of all sorts would drop in value. Some dump their coins and cry, some dump their coins and buy more when the price is lower, and other hold tight.
The coins most interesting to watch in a series like this are those that do not jolt up or down when Bitcoin jolts up or down. One reason for this might be lack of any significant interest. Those involved in the price of a coin might just not be paying attention – or there are so few investors that movement only comes gradually.
Today we’ll watch a gradual move, in a big way. Some coins have already returned to their pre-BTC-jolt pricing, others are coming in quick. Stick around as we cover the news that makes the coins hit the walls, explode through the walls, and bust into millions of pieces.