Bitcoin, the world's most popular crypto currency has been taking investors since the start of the year, falling from around $ 15,000 since the beginning of January to $ 6,000 in the space of 6 weeks only to bounce back above the $ 10,000 dollar mark in today's trading.
This certainly is the volatility to trader dreams of, with opportunities abound in long or short positions, so the question in which direction will it travel now?
In the future, but bitter about the bitcoins, and with this volatility and especially the sudden drop in price of around $ 9,000, one has to be quietly cautious about placing any .
Craig Erlam, a senior market analyst at Oanda notes that investors should be wary because of the chances of another sharp decline definitely remain.
"Bitcoin continues to be a volatile as ever, having almost double in price in two weeks since bottoming around $ 6,000 on 6 February," he said
"It now finds itself testing $ 10,000 from above, a level that is providing some support in the near term. Sentiment remains extremely fragile in cryptocurrencies and he's still recovered from what was a nasty selloff around the turn of the year. "He added.
Will say bitcoin move Some say that the current level of $ 10,000 may be in the last few weeks exit their trades and book in profits but that will eventually end a new wave of long positions significantly higher.
"$ 10,000 is a plateau for Bitcoin only as long as profit-taking continues," says Trevor Gerszt, CEO of crypto investment service
Bitcoin got close to $ 12,000, I know a little bit of retrenchment was not unexpected. Once again, we expect Bitcoin to continue its long-term price appreciation. "He added.
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