Major cryptocurrencies like EOS Ethereum, Ripple, Bitcoin Cash and Litecoin have seen major losses of 3-6%, for the past 24 hrs, while bitcoin still sit on the $7,200 Price range.
The stability of Bitcoin in the $7,200 range despite the price drop of major digital assets in the global market allowed the weekly price chart of BTC to demonstrate a possibility of a break out in the short-term.
In the past week, tokens like WanChain, Digibyte, and Aion received a 10-30% increase in value, this new week illustrates how these tokens listed above reduced in value by 10-20%.
However, many traders, yesterday, thought of Bitcoin’s shoot in price as “short-term” due to lack of momentum in the movement of the dominant cryptocurrency, but the opposite is the case right now as the mother of all coin continues to flourish in price above the $7,200 mark.
Some investors have suggested that for the cryptocurrency market to experience any major change in trend in the short-term, BTC will either have to drop below the $7,000 mark or break out of $7,500.
Now, what do you think will happen next in the crypto world? We already know that no one is perfect when it comes to predicting the future, but your suggestions are highly welcome. Hit the comment box to drop yours. For me, I think that it’s time for Tom Lee’s prediction of $20k- $25k price for Bitcoin, to come to pass.