A well respected cryptocurrency – Bitcoin, has been steadily gaining value within the past couple weeks, despite the recent large downwards correction to $10,500, before bouncing back up to today’s current levels – $16,420 for 1 Bitcoin.
Because of this recent upwards rise, only tells people that a larger move up is coming, but when will it stop? A first good stop would be the $25,000.00 for each Bitcoin. It is a great level to look at selling because 1, that would be a nice profit if buying now, and 2, it is a psychological number, 25.
This is just short term talk, obviously as the future unravels, the price will most likely be in the 6 digits, not too far from now.
Currently speaking, there isn’t much to say, lots of people were doubting Bitcoin around Christmas time because it was “crashing”, but naturally, people are going to be cashing in their Profits for physical items, like lambos. So of course, a large downwards correction to 10k from 20k is possible, and the fact it happened around Christmas time should be correlated in some way.
And as the Holidays pass, people are starting to buy again. However, should Bitcoin even matter? Check out the Alt-coin charts, most of them are technically at their lowest points, but their value are so high because of bitcoin value is so high, so if the Technical Analysis is right, very soon should alts shoot up like crazy, way faster than bitcoin will, even though bitcoin probably won’t stop as well.