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.
It is still at a very low price compared to what it can achieve as we already saw. Bitcoin has potential to go way beyond $20k and still stay around those prices for a long time, its just a matter of time before another huge bull run happens. The prices of bitcoin was around 900 dollars last year and than went to 20k, there is still a chance that bitcoin goes above $20k and closer to $30k from $6k levels. So i think buying even now is great chance at the dip.
People bought bitcoin when it was $20k thinking bitcoin will be going to $100k or whatever and now they are sad they purchased so high but when you tell people to buy at the dip so they can cash out when bull comes again they are afraid, than they watch the bull run sadly and try to get in too late and hope they can make profit.