The cryptocurrency market is like a seasonal spring. Sometime you will see an outburst and sometimes it’s just a meander of a thin water line. Despite its popularity and higher price than any other cryptocurrencies, Bitcoin’s journey was always up and down the hill.
After a big plunge in March, the cryptocurrency is making slow progress price-wise. Currently, digital money is stable and the miners can release a sigh of relief. However, how long they can be relaxed is a matter of complex calculation and predictions.
The Bitcoin price is now at 9595 points. However, it already saw at least 2 drops from that range before the steady summer. Any further drop can disrupt the stable sideways movement of the currency and may make miners recalculate the price range.
The market saw the highest leap late 2017 with a price of around 19,000 whereas the biggest plummet took place in late 2018 just below 3000. The market analysists prefer to keep these numbers as the breakout and breakthrough for the cryptocurrency. Any deviation from this range may end up in an unsteady market.
If you look at the monthly price chart and follow those dots, the range will be much clearer to you.