Bitcoin Was Supposed to be Above $10K by Now, but It’s at Lows Not Seen This Year
Over the weekend, Bitcoin’s price sank to lows not seen this year, so should we remain optimistic about it moving higher? We discuss it. This was supposed to be the time that Bitcoin’s price would begin ripping higher, according the predictions made by many analysts over the course of the first half of the year. While many predicted Bitcoin’s price would at least be above $10,000 by now, that has failed to come to fruition. In fact, Bitcoin fell below $6,000 overnight Saturday, and was around $5,900 at the time of writing Sunday (New York time). End of these dips It was only a few days ago that we reported on a reputable analyst weighing in on price targets. Bill Baruch, the president of Blue Line Futures, observed that the days of Bitcoin’s wild price swings as nearing an end. He added that for the near term, a bottom would occur more quickly and more constructively if the previous low of $6,000 per coin holds. He added that the 100-week moving average was down near $4,5