The truth is that we all miss the times when one Bitcoin was of around $1000 in value, but the chances for the coin to increase in value are quite high at this moment in time. Just last night, the Bitcoin price was lucky enough to see an advance which brought it to $240 for one Bitcoin. This doesn’t only represent the first step towards ensuring that the decline in the value will end, but it also pinpoints that the coin will probably get more valuable sooner than initially expected.
While the price fluctuation today may seem modest, analysis has shown that it actually holds great implications both for traders, but also for holders of the cryptocurrency. With this factor in mind the significance of the advance is actually its particular wave construction, as the fluctuations that we have seen over the last couple of days together with the increase of price that has sparked people’s interest are all starting to play an important role in giving the currency the momentum that it is looking for. To shine a light on to how it’s actually getting this momentum, it should be said that the sudden rises and falls of the coin’s price are exactly what the cryptocurrency needs at this moment to begin an overall increase in value once again. Not only was this proven to work with official currencies, but the simple fact that the coin has been situated around the same level for a period of time should be enough proof to point that the impetus it is getting will shape the currency in the near future, which is probably great news for traders and holders from all around the world.
By keeping an eye on the charts that have been released, but also on the official analysis of the trading trend at this moment, it is safe to say that we now find ourselves at a moment in time when investing in Bitcoin may actually turn out to be a great idea, as the market psychology has also gradually changed. By buying currency and holding on to it, the chances of gaining more once the value tends to increase greatly rises, mostly due to the fact that the coin has not seen an all-time low recently.
Additionally, the buy/sell volume over on Bitfinex also shows that buyers are waiting for the prices to drop again and invest in the coin, all of it thanks to the momentum that it is gathering at this moment in time. The chart below outlines the fact that there are many buyers who are currently waiting below the price to invest in the coin with once it stagnates again, mostly due to the fact that the next stagnation will bring enough momentum to gets the coin’s value up just like currency analysts are currently pointing out.
However, this are still risky as sudden price fluctuations can mean both good news and bad news, so the best probably choice would be to analyse all charts and go with the gut instinct on this one, as the next wave of fluctuation gathered by the currency will bring an increase in the overall Bitcoin value.
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