On Thursday bitcoin is fading in value and shedding 15% of the value. It’s actually an anguish situation for the traders and investors who were hoping for the better value in March but what we can witness currently is that this may be the lowest trading value of the month.
The cryptocurrency market is not in a very well position since Google announced the ban on cryptocurrency ads and the rule will be implemented from June. This news has affected the whole market and all coins are showing a decline. Bitcoin is the one which is getting affected the most by this news.
A considerable recovery is happening too where bitcoin is saving itself from plunging below $8000. The coin is trying it’s hard to get trade above $8000. The current value of bitcoin is $8200 which is definitely a danger zone for bitcoin. From $11,500 bitcoin shed it’s value all the way and reached to the $8200. Till next week according to our prediction bitcoin is going to have impressive gains in its value but this is the time when people should invest in coin and hold it. If a pressure of selling will be less in the market then it will be easy for this coin to have increment.
If traders will try to sell their bitcoin in the market without waiting for another week then bitcoin can plunge below $6000 as well due to the low trading volume. If selling pressure will be down then bitcoin can have the previous momentum again and can climb up one more time.
Where every coin is declining, bitcoin is still the highest in the value and maybe until the end of March chances are that bitcoin is going to cross $12,000. As per the previous momentum of bitcoin, it may be possible that this coin is going to break the barrier of $10,000 in the first place.