The cryptocurrency market is mostly dictate by how well Bitcoin is faring and in recent months the price of Bitcoin has mostly hovered around the $8000 price tag. This price point seems to be really important or should I say exciting for Bitcoin; which is also the market leader in the crypto sector. Since the breakdown of Bitcoin price from $9400 it has hovered around and still arrived at that $8000 price tag making some people believe the price might never rise above that.
The entire cryptocurrency market has lost the aggressively positive vibes it had in June this year when the price of Bitcoin pushed above $10000. The drop of over $2000 can be blamed for this lacklustre interest in recent weeks, but this will only last for a short term and after that we should expect a massive surge in the price of Bitcoin. This analysis or better yet prediction was made by popular cryptocurrency analyst Big Ched. This price prediction for Bitcoin is based on his careful study of market charts and data. His intelligent market analysis which has earned him a name as a top cryptocurrency analyst has given Bitcoin traders and investors hope of a bullish run for Bitcoin in the near future. It’s time to stack up some Bitcoin and hold on for dear life.
Altcoins on the decline
Since the decline in the price of Bitcoin; the natural leader of all other cryptocurrencies, altcoins have suffered a massive decline in price and this sharp drop doesn’t have an end in sight unless Bitcoin picks up the pace and runs into an aggressive bullish market. Although altcoins may depend on the price of Bitcoin to flourish, some altcoins are actually doing well and making some investors grin wildly. Coins like LINK, TNT and XRP are some of those altcoins holding those ground in this short bearish Bitcoin market. Although the market looks down now but there is hope for the future – a future where coins will not be judged by the symbol of their brand but judged by the bullishness of the market (by the way, that’s a Martin Luther King reference and I don’t know if it makes sense, but I just felt it should be there).