It wasn't a surprise because bitcoin was close to $50k price for a couple of weeks but will it be stable there ?
During the next week will the price be heading downward because of sellers making profits or is it going upward when the next price to generate media interest will be $75k ?
It's difficult to work out if it's going to stay stable at $48k - $50k
During the next week will the price be heading downward because of sellers making profits or is it going upward when the next price to generate media interest will be $75k ?
It's difficult to work out if it's going to stay stable at $48k - $50k
The recent dip indicates powerful buying pressure around the $50k mark. Probably there are algorithms at work for institutions with sophisticated ways to build positions.
I believe Bitcoin will consolidate for a bit at these price levels in order for the bulls to "refuel", but in my opinion the bull run is not over yet. Remember that the context is very different now. When one of the top 5 companies in the world is leading the "bitcoin" adoption - expect some huge waves.
Paypal, Visa and Mastercard is just the beginning. IMO Apple, Microsoft and other blue chips will follow up soon.