Why the course of Bitcoin will not fall below $ 10,000, arguments and analysis of the situation

The growth of the cryptocurrency market in recent days is amazing, within a few hours on June 22, Bitcoin grew by more than $ 1000 dollars, leaving investors in a certain euphoria.

Now, hoping that Bitcoin will not be adjusted significantly, as it did in 2017, analysts and investors are considering a number of important scenarios for the future price behavior of Bitcoin.

At the moment, most digital currencies feel great on the market. Bitcoin was in the lead in 2019 confidently, also “pulling up” other cryptocurrencies.

In 2017, the main cryptocurrency coped with the situation very well, and even recorded a record of $ 20,000. Although it was then expected that Bitcoin would continue to grow, a destructive correction later occurred, which reduced the cost of Bitcoin to about $ 3,200.

Then many cryptoinvestors lost their capital, and this especially affected those who entered the market at a 5-digit bitcoin price.

This also led to sales pressure, as the incident forced some investors to exchange their bitcoins for fiat currency, although some investors were patiently expecting another growth, despite the bitcoin's "cloudless" future.

In 2017, many people learned about Bitcoin, but the number of "involved" was still limited. However, today it has gained immense popularity, including many institutional investors who want to invest in it.

Now supporters of crypto and analysts suggest that the growth trend in 2019 will continue, although this will differ significantly from the 2017 parabolic rally.

At the same time, some cryptanalysts say that there will not be a new significant drop in the price of Bitcoin, giving some significant arguments.

Why does bitcoin have no reason to correct again?

A couple of years ago, Bitcoin and other cryptocurrencies were not affected by as many factors as it is now. The consistent growth of the main cryptocurrency seems to threaten the economic stability of some countries.

One US congressman has already proposed a bill banning trade in cryptocurrencies , citing the fact that their prosperity is a threat to the value of the US dollar.

China and India are also among those countries that do not like the popularity of bitcoins, and crypto experts even suggest that the threat of a ban from these countries ultimately contributes to the growth and popularity of the main cryptocurrency.

One analyst recently expressed a convincing idea that can hardly be ignored. In his opinion, the last time Bitcoin broke through the resistance level of $ 10,000, the digital currency was not actually subjected to the factors and risks that surrounded BTC today.

According to him, Fidelity, AT & T, Bakkt, Microsoft, TD Ameritrade, Facebook and some other institutional investors are currently showing interest in cryptocurrencies, which promises more support for BTC without a substantial correction of its price.

He said:

“Last time, Bitcoin overcame $ 10,000: then Fidelity did not keep it; and AT & T did not accept. Congress did not fight it. Bakkt and Microsoft also did not deal with bitcoins. TD Ameritrade did not trade them. And Facebook did not compete with the main cryptocurrency. ”

At the time of the preparation of this post, Bitcoin was worth $ 10,744 (-0.22%). On June 22, Bitcoin tested new levels above $ 11,000 before retreating below. The continuation of this trend may also bring the price of Bitcoin to $ 13,000 next week, which will further strengthen the faith of supporters of digital coins in the "cryptocurrency" future of money.

Publication date 23.06.2019
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