Bitcoin rises above $9k and drops back: 11 February 2018 Bitcoin price analysis & USD / BTC price prediction today – BTC News Today

In the last 60 days, Bitcoin has been falling in value consistently. The problem is that it has fallen from a level of $20,000 to around $ 7500. This has led many to believe that it can sustain above the current levels and even head to $10,000. Therefore, when Bitcoin started rising once again from $ 7500, most of the investors did not believe that it was a sustainable rally. Owing to this very reason, many of the investors did not invest in Bitcoin at that price.

However, according to the latest trends, it is trading about $9000(now it dropped below 9k). This marks an increase of over 20%. This is the reason why many of the investors are now starting to think whether Bitcoin has started to rise again. From the rally of over 20%, it seems like Bitcoin has actually created a bottom.

Institutional investor holdings:

Even at the current levels, the institutional investor holding is on the lower side. If the institutions decide to invest in Bitcoin, it might give a huge boost to the cryptocurrency. As for the retail investors, many of them are starting to jump on the Bitcoin now that it has risen by more than 20%. This is the reason why, it is rising consistently. Moreover, it is not a single cryptocurrency which has risen. Most of the cryptocurrencies have actually increased 20% to 30% from the bottom. This is the reason why investors are starting to think that it might be the right time to invest in cryptocurrencies.

See the cryptocurrency ticker at the end of article for current prices!  

Moreover, there are other financial product solutions which are available these days as well like cryptocurrency mutual funds. These funds are also investing in various cryptocurrencies. This is the reason why the participation of the retail investors, as well as the institutional investors in the cryptocurrency market, is increasing significantly. It remains to be seen whether this particular rally in Bitcoin is sustainable or whether it again breaks the law which it is formed recently and falls further.

Related:   Bitcoin outperforms other cryptocurrencies amidst recovery / BTC News Today

As of now, it seems like Bitcoin has actually created a low and from now it would be increasing back about 10,000 very soon. Most of the investors are waiting in anticipation to see whether it is able to cross the earlier highs or whether it falls once again as the negative news around the cryptocurrency just keeps on coming. If movement is anything to go by, in the next few months it should be able to cross the earlier highs.

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Crypto Currency Price24H Changes
Bitcoin (BTC)
10567.0
-9.88%
Ethereum (ETH)
842.435
-7.96%
Ripple (XRP)
1.00934
-8.93%
Bitcoin Cash (BCH)
1293.47
-12.62%
Litecoin (LTC)
211.435
-13.05%
Cardano (ADA)
0.367263
-4.96%
Stellar (XLM)
0.397747
-4.03%
EOS (EOS)
8.61949
-9.48%
Dash (DASH)
667.517
-5.93%
IOTA (MIOTA)
1.79046
-8.0%
Monero (XMR)
302.31
-3.32%
NEM (XEM)
0.462002
-6.89%
Ethereum Classic (ETC)
35.4719
-10.99%
TRON (TRX)
0.0439939
-8.19%
VeChain (VEN)
5.79625
-11.06%
Lisk (LSK)
22.1048
-17.72%
Tether (USDT)
0.997331
-0.32%
Qtum (QTUM)
28.1408
-11.64%
Bitcoin Gold (BTG)
121.256
-11.43%
OmiseGO (OMG)
17.5001
-9.69%

About the author

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Adam Web

Adam Webb is editor in Smartereum, blockchain and currency news, where he produces updates on Blockchain, Ethereum and other alternative cryptocurrencies.

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