The price of Bitcoin was hovering around $10,000 in February before the coronavirus pandemic led to the U.S. stock market to correct sharply. At that time, analysts expected BTC to pull back as the price had also rejected at $10,500 which is a pivotal resistance level.
it was not rejected at $10500!
there was already a bull market going on from mid December from around $6500 and it was rising with healthy corrections all the way towards previous ATH ($20k). $10.5 was also another target that was reached followed by another healthy correction just like the previous ones (@$7.6k, $8.4k, $9.2k and finally $10.5k).
How do you think?
it is not possible to predict when the bull market is going to be resumed and price to go back to what it was doing 6 months ago. there is still a lot of uncertainty and panic in bitcoin market that is preventing that, it could go away in a couple of days from now or it could last much longer.