Bitcoin price has been once again attacked by the bears. Over last 24 hours, BTC price has dived to 6 567 USD price level. Currently, it remains just above that.
Bitcoin price: the bears control the market
Yesterday’s session on Bitcoin was opened on 6 845 USD and closed on 6 642 USD. It was a decrease of 203 USD, so 2,97%.
Current BTC price is about 6 681 USD. In the 24-hour range BTC price remains on 3,13% decline.
Amount of BTC held on cryptocurrency exchanges is falling
As it turns out, for days ago the Bitcoin deposits on cryptocurrency exchanges reached its lowest level since 2016.
Does that mean, the cryptocurrency community moving their assets back to their wallets? It seems so. Some of them might be preparing for long-term investments.
BTC price - analysts opinions
It is worth mentioning, that many analysts are debating about what happens with Bitcoin when quarantine ends: will it have any impact on Bitcoin price? For instance, the known crypto enthusiast CryptoWendy0 has addmited, that she feels so many people not trusting governments and banks. This in turn can be beneficial for virtual assets.
If people do not have income, jobs, and we enter another recession similiar to 2008 BItcoin price may remain at current values, as there must be buyers to create demand.
What do you think about that? Will Bitcoin fully regain its strength this year?