Hello Friends,
We are back with another interesting blog on bitcoin.In the last blog we indicated about the dump and bitcoin fell from 7400$ to 6200$ within a day.Today now bitcoin near 6500$ we will discuss some bitcoin further moves and S.C decision on R.B.I ban.
INTRODUCTION :
No one even in their wildest dreams have even thought that bitcoin will fall from 7400$ to 6400$ in matter of few hours.The whole bitcoin upwards rally perished just with one negative news which later on turned to be fake.The serious level manipulation in this market is seen many times now.Supreme court decision on R.B.I ban on banks dealing with cryptocurrencies is awaited only 2 days from now.
IS BITCOIN BULL RUN COMING ?
In the present situation everyone is in panic that bitcoin can come down to 5900$ support very down but the bitcoin is holding 6300-6400$ level very strongly.We can seen it soon to 6800$ in few days, all we need is some momentum back in the market.Presently the marketcap is near 200 billion$ which is quite low.
There are some possible reasons of bitcoin run in next few months like -
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ETF decision is pending in September last week, this will create hype in market again.Probably we can see bitcoin in 7000$ range soon.
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We are in last quarter of 2018, this is the time bitcoin usually takes serious moves.This is not sure but bitcoin recent years history shows that.
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Mostly all coins are 80-95% low of their all time high they are now ready to move with institutional money coming in.
WHAT WILL HAPPEN ON 11 SEPTEMBER ?
Every Indian's eyes are on the Supreme court decision in just 2 days.We all are hoping optimistically but what will happen on 11 september no one knows.If a good news comes out surely we can see momentum back in the Indian market which is very much needed right now.As of now there are very minor chances of a bad news.Probably we can see one more hearing on the matter.
CONCLUSION :
Market always behaves like this way, just flows opposite what usually people thinks.But we are hoping for the best in next few months bitcoin can see new highs again.This time is difficult for all, but risktakers are rewarded.We all are here to stay for long.
See in our next blog on 11 September !
Don't forget to comment down your views and predictions about bitcoin future below.
Thanks, Sumit Kapoor @moneyguruu