Over the past six days, the Crypto-currency has risen in price by 8%. Today, its rate may decrease, says CoinDesk analyst Omkar Godboul
On Monday, August 20, the average market rate of Bitcoin rose above $ 6500, after which it declined. Now the Crypto currency is trading at $ 6,480, August 14, its price was $ 5,980, over the past six days it has risen 8%. At the same time, the total capitalization of the industry grew by $ 27 billion.
According to the expert CoinDesk Omkara Godboula, in the near future the price of bitcoin should remain above the $ 6320 zone, otherwise the rate will again fall to the level of $ 6000. Then, the Crypto currency may fall to $ 5859 and $ 5755.
On the other hand, if the coin value can rise above $ 6595, it will reach the $ 7000 zone. Bitcoin will begin to recover gradually if it can consolidate above $ 7067. In the near future this is less likely than a negative scenario.
We all know that bitcoin is a volatile crypto currency and being volatile in nature its valuation keeps on flactuation with time so its valuation are subject to pump and dumps according to the market demand and supply so one needs not to worry about this deflated valuation because the time will come when the valuation will inflate again and this assumptions is also according to some financial experts and till then holding your bitcoins is the best solution.