So we had the halving hype and lot's of people pouring money into bitcoin in anticipation of the halving. This pumped the price to $785 a coin which was pretty much expected or at least not surprising. Once people realized that the "halving run-up" was over, they profit-booked, causing an expected correction. It took a while to find a consolidation range, but it seems we may have finally found it ($550 to $600). This has happened with all other halvings in other cryptocurrencies.
So why is everyone freaking out about a "low price"? We are up $350, give or take, from the price at this time last year.
So why is everyone freaking out about a "low price"? We are up $350, give or take, from the price at this time last year.
Yeah sure a drop was expected to happen after crazy run up to $785.
And the actual range of 570-580 looks really healthy for a bottom after the correction.
Possible we might move some while sideways before seeing again any significant movements.This will make people even more bored.
However the closer we come to the end of this year I expect to see some funny upwards movements again.