The crypto-currencies showcase is grabbing a seat today after a solid run-up. Bitcoin is holding in the $9,300 territory at mid-morning subsequent to ascending as high as $9,500. The subtle $10,000 hindrance is in locate, however the walk towards it continues getting slowed down by anxious speculator pullbacks.
Thing is that we don't know whether bitcoin is going to be able to reach the 5 figure mark during this bull run, or not. If it does, then there is a possibility that bitcoin is able to go up further in the 5 figure range. But the selling pressure at that point is just so strong that we haven't been able to break the resistance, despite multiple tries.
There are no guarantees that bitcoin is going to go down near the previous lows saw in January temporarily, but I think it's likely if we're not able to reach 5 figures during this bull run.
Markets are just not ready to take the next step into a fully bullish market, I don't think. We're still settling down/consolidating from the previous bull market, however you want to call it.
However, 2018 is different in my opinion. Bitcoin has been acknowledge by a lot of governments now, From Europe to Asia to Africa, Government started to notice its potential to affect their nation, either positive or negative that's why we see countries heavily regulating it today more than ever. As for the $10000 walk, again we almost did it last week, But we have been pulled back again momentarily. This is the second time that we have attempted to break that 5 digit mark, both unsuccessful. I don't expect it to make a run this week, because we even slide further today at $9100. But at the back of our minds, we all know that we can get to it, just waiting for the right timing so that we can finally get it. Maybe before the end of the month, bitcoin will be worth $10000. And we all call breathe and sleep tight.
