Bitcoin price has been fluctuating highly in the last week. Amidst news of bitcoin whales stocking up on bitcoin, the price jumped up past $34,000. Briefly breaking $35,000 yesterday afternoon before coming down to continue trading n the $34,000 range again.
But the past 24 hours have seen the » Read more
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin take a good dip in price. Over the span of a day, bitcoin has lost over $2,000 from its price. This equates to about 6% of its price in the last 24 hours. Bitcoin price currently sits in the red as the » Read more
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin now trades for about $32,525 at the time of writing this article.
Related Reading | Bitcoin Whale Warns Of “November 2018 Vibes.” What This Means
Sudden dips in price over short periods of time are not uncharacteristic for the » Read more
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin. Or for the crypto market in general. This is a feature of digital currencies, not a bug. So, investors expect things like this to happen all of the time. It comes with the territory of getting massive rewards in a short amount of time. But this then leads on to the question of what the current dip indicates.
Price Correction
Most times when prices move too high in a short time, this usually comes with a price correction in order to get the asset to a price point where it is not fluctuating too wildly. Price corrections are incredibly notorious for happening during bull runs.
This is due to the fact that in a bull market, prices are moving by large margins on a daily basis. Sometimes in only a matter of hours.
Bulls struggle to keep price of bitcoin up as price dip continues | Source: BTCUSD on TradingView.com
While price corrections happen a lot in bull markets, this does not mean they can’t happen in » Read more
