It happened: Bitcoin price fell, skipping the bullish trend
Bitcoin price fell against an expected bullish period. Still this fall corresponds completely to the forecasts made a week ago. So the slow grind lead to a bearish turn. Bears are happy, but isn’t it too early?
$300 dump of Bitcoin price: it was painful
On Wednesday all the BTC owners felt this pain – the pain of the price fall, when it bumped down several hundred dollars in just a blink of an eye.
Surely, at first the community rejected the substantial fall and the currency was traded at the point of $8,000 sharp, but what is meant to be will be and the price fell down this mark, turning the screens red.
Now the levels had given way again and the currency is traded at the point of $7,930. Not that huge loss but still. However, the analytics do not seem to be surprised as far they were telling about this turn of events over the past couple of days. According to some sources the fall will continue and can reach the mark of $7,400.
The current situation and the price shift is provoked by the users, absorbing downward movements. So the sentiments are increasing, the community panicking and the price goes lower and lower as a result. So the main advice for the BTC owners is always the same – try to avoid decisions, driven by emotions only.
Not Just BTC is Moving
The Bitcoin’s price goes down and the altcoins follow, which is not an unexpected move. A lot of cryptocurrencies fell down up to 6% in the previous 24 hours. Tron, EOS and Binance Coin experienced the most substantial dropdown. Inetersting thing ot analyze: Bitcoin SV gained 1%.