The night of 16 February, the average cost of bitcoin stood at $10,324. Then the price dropped, and now the cryptocurrency is trading at $10,100. However, over the last two weeks bitcoin has risen in price by $4000 — about 60%.
Analysts are optimistic: if bitcoin will stay at the level of $10,000, soon the price will rise and we will see the price of bitcoin at around $12,000.
The optimism in the community and also give the predictions from the end of January that the bull market will come after the Chinese new year celebrations, which began to celebrate today. Analytics of previous years confirms this.
So we see that 2015 has established a clear pattern when the bitcoin drops in January, and in February there is a price increase.
However, experts in those-the analysis is not so happy: if bitcoin can not be fixed at $10,000, we will see a price reduction to below $7000.
Recall that in January of 2018, the majority of the cryptocurrency dropped in value, and total market capitalization fell to $279 billion. The situation began to improve after the session of the Senate of the United States, where financial regulators discussed trends in the cryptocurrency market and came to the conclusion that at the moment the industry does not need tight control or restrictions from the government. After that, most of the coins have started to rise in price — total market capitalization has doubled and currently stands at $480 billion.