In a Tweet on May 3, Sherman-Founder of Bitcoin Foundation Charlie Shrem announced that this month the Bitcoin market would mark an important turning point.
May 2018 will be Bitcoin's "last time" at under $ 10,000. That was Shrem's statement, which made the digital money community flutter. From less than $ 6,500 in the first quarter of this year, BTC / USD prices rose by over 30% in April and have kept rising ever since. Previously, there was a long-term trend analysis indicating the beginning of the 'hold' phase for Bitcoin. Right from the first week of the month, we have seen one of the most obvious signs that an uptrend may begin soon. Currently, Bitcoin has been traded at $ 8,397.10 and Ethereum at $ 700.10.
With Shrem's strong statement, do you believe from June 2018, Bitcoin and Ethereum will change drastically and the value will start to increase rapidly?
Bitcoin could stay under $10k for a long time, as it has for a few months now.
There are absolutely no guarantees as to if next month all of a sudden we will go into a period of full on bullishness, and people get hyped up. In fact, $10k has demonstrated to be quite strong as a resistance level. It'll be hard to even break that $10k level to begin with within 1 month, let alone act as support for the rest of BTC's lifespan.
As much as I'm a bitcoin bull in the long run, I don't think that there are any reason ta say that bitcoin can't dip below $10k again during a period of bear market. That's just an absurd proposition to make right now, imho.