Yesterday’s announcement that the Winklevoss’ Bitcoin EFT application was rejected for a second time caused Bitcoin, and the crypto market in general to fall.
The announcement came at a time when Bitcoin was gaining momentum and looking to close in on the $9,000 mark – instead Bitcoin’s price fell below the $8,000.
Despite the latest dip, many crypto analysts still maintain Bitcoin’s bullish trend, expecting it to rise above the $8,000 mark in the near future.
In November Bitcoin was priced at just under $8,000 when it fell to under $6,000 before making a bull run to $20,000! Whilst it would take an impressive bull run to reach the $20,000 figure in the near future, we would not be surprised to see Bitcoin at $10,000 within the coming weeks.
We are also expecting big announcements with regards Bitcoin Cash (BCH) in the coming months – so keep a look out!
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We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.