For the first time since December 4th the price of one bitcoin is above $4000 again. Currently the cryptocurrency is on a little bull run, after it hit a year low of $3200 on December 15th. Within five days bitcoin (BTC) increased 25% in value.
When moon? Well, let’s first see if the market can keep momentum… shall we?
The entire crypto market is going up, as it increased its value from 100 billion to 129 billion in less than a week. The biggest question is whether this momentum can be sustained, or that the market will make a major drop again.
When trading in bitcoin is driven by low volume, it’s likely the price will drop again. However, since December 20th trading in bitcoin has had a volume of 6.6 billion dollar. This is quite a considerable amount, especially compared with the volumes in the weeks and months before. But for an asset that has seen the price surge as bitcoin did, the amount is still quite little.
Will it drop again? Probably a bit. But as many analysts have said before: “The worst is behind us!”
Also published on Medium.