Following​ ​the​ ​crypto​ ​market​ ​as​ ​of​ ​recently​ ​has​ ​been​ ​quite​ ​a​ ​ride.​ ​For​ ​many,​ ​the​ ​recent drops​ ​and​ ​falls​ ​in​ ​price​ ​have​ ​led​ ​to​ ​some​ ​sort​ ​of​ ​panic​ ​amongst​ ​traders​ ​who​ ​specialize​ ​in cryptocurrency.​ ​However,​ ​if​ ​we​ ​truly​ ​look​ ​at​ ​the​ ​price​ ​action​ ​and​ ​how​ ​it’s​ ​moving,​ ​it​ ​might​ ​be actually​ ​just​ ​corrections​ ​in​ ​a​ ​seemingly​ ​very​ ​bullish​ ​market.​ ​Cryptocurrency​ ​has​ ​been​ ​growing​ ​in development,​ ​ability,​ ​and​ ​many​ ​other​ ​things​ ​that​ ​have​ ​contributed​ ​to​ ​its​ ​over​ ​zealous​ ​price action.​ ​People​ ​are​ ​finally​ ​starting​ ​to​ ​wake​ ​up​ ​to​ ​the​ ​fact​ ​that​ ​cryptocurrencies​ ​could​ ​possibly​ ​be the​ ​future​ ​of​ ​money,​ ​and​ ​could​ ​take​ ​over​ ​fiat​ ​currencies​ ​as​ ​a​ ​whole.​ ​Bitcoin​ ​specifically​ ​reached a​ ​near​ ​of​ ​$4900,​ ​nearing​ ​the​ ​$5000​ ​mark​ ​but​ ​couldn’t​ ​pass​ ​over.​ ​The​ ​price​ ​dropped​ ​over​ ​6%​ ​in less​ ​than​ ​a​ ​day​ ​and​ ​reached​ ​lows​ ​of​ ​$4450​ ​which​ ​caused​ ​extended​ ​panic​ ​in​ ​the​ ​community. People​ ​started​ ​panic​ ​selling,​ ​one​ ​of​ ​the​ ​worst​ ​things​ ​that​ ​one​ ​can​ ​do​ ​in​ ​the​ ​cryptocurrency market.

After​ ​these​ ​drops​ ​occurred,​ ​we​ ​saw​ ​the​ ​same​ ​thing​ ​that​ ​we’ve​ ​seen​ ​again​ ​and​ ​again​ ​and again​ ​with​ ​Bitcoin​ ​price;​ ​it​ ​bounced​ ​back​ ​from​ ​the​ ​lows​ ​it​ ​attained.​ ​After​ ​reaching​ ​$4450,​ ​the price​ ​bounced​ ​back​ ​up​ ​after​ ​a​ ​sharp​ ​decline.​ ​We’ve​ ​seen​ ​this​ ​happen​ ​very​ ​often​ ​with​ ​Bitcoin​ ​for multiple​ ​reasons,​ ​for​ ​one,​ ​we​ ​can​ ​look​ ​at​ ​the​ ​fact​ ​that​ ​knowledge​ ​of​ ​widespread​ ​awareness​ ​of Bitcoin​ ​has​ ​reached​ ​new​ ​heights​ ​never​ ​before​ ​attained.​ ​Bitcoin​ ​has​ ​gained​ ​huge​ ​traction​ ​within the​ ​past​ ​year,​ ​receiving​ ​support​ ​from​ ​some​ ​of​ ​the​ ​biggest​ ​political​ ​figures​ ​in​ ​the​ ​monetary market,​ ​including​ ​Janet​ ​Yellen,​ ​and​ ​even​ ​tech​ ​mogul​ ​and​ ​the​ ​most​ ​wealthy​ ​man​ ​in​ ​the​ ​world,​ ​Bill Gates.​ ​In​ ​addition​ ​we’ve​ ​seen​ ​a​ ​huge​ ​increase​ ​in​ ​the​ ​altcoin​ ​market.​ ​Trading​ ​volume​ ​for​ ​altcoins has​ ​reached​ ​all​ ​time​ ​highs​ ​with​ ​some​ ​alts​ ​nearly​ ​quadrupling​ ​alongside​ ​Bitcoin.​ ​Altcoin​ ​trading has​ ​boomed​ ​within​ ​the​ ​past​ ​year​ ​and​ ​has​ ​shown​ ​huge​ ​promise​ ​with​ ​ever​ ​increasing​ ​amounts​ ​of ICO’s.

Bitcoin​ ​has​ ​some​ ​extreme​ ​support​ ​around​ ​the​ ​$4500​ ​areas​ ​and​ ​some​ ​resistance​ ​areas in​ ​the​ ​$4750​ ​area​ ​and​ ​$4950.​ ​These​ ​are​ ​both​ ​milestones​ ​that​ ​need​ ​to​ ​be​ ​passed​ ​to​ ​solidify Bitcoin’s​ ​price​ ​above​ ​$4500.​ ​These​ ​are​ ​happening​ ​because​ ​there​ ​is​ ​still​ ​some​ ​uncertainty​ ​in​ ​the air​ ​about​ ​whether​ ​or​ ​not​ ​Bitcoin​ ​is​ ​a​ ​bubble,​ ​so​ ​some​ ​investors​ ​and​ ​traders​ ​have​ ​limit​ ​sells around​ ​these​ ​areas​ ​for​ ​secured​ ​profit.​ ​All​ ​in​ ​all,​ ​in​ ​the​ ​cryptocurrency,​ ​traders​ ​should​ ​aim​ ​for profit​ ​and​ ​profit​ ​only.​ ​With​ ​a​ ​very​ ​bullish​ ​market,​ ​we​ ​have​ ​to​ ​keep​ ​in​ ​mind​ ​the​ ​fact​ ​that​ ​this​ ​could turn​ ​into​ ​a​ ​bearish​ ​market​ ​at​ ​any​ ​point,​ ​so​ ​securing​ ​profit​ ​is​ ​a​ ​must​ ​in​ ​any​ ​situation.​ ​This​ ​is​ ​why we​ ​can​ ​see​ ​some​ ​huge​ ​resistance​ ​at​ ​the​ ​900s​ ​area,​ ​because​ ​passing​ ​$5000​ ​in​ ​price​ ​mark would​ ​be​ ​a​ ​huge​ ​milestone​ ​that​ ​would​ ​attract​ ​lots​ ​of​ ​buyers.

However,​ ​if​ ​price​ ​action​ ​breaks​ ​through​ ​the​ ​$4500​ ​support​ ​areas​ ​we​ ​would​ ​probably​ ​see an​ ​overextended​ ​decline​ ​to​ ​lower​ ​areas​ ​such​ ​as​ ​$4200​ ​or​ ​so.​ ​Bitcoin​ ​has​ ​shown​ ​extreme potential​ ​in​ ​its​ ​ability​ ​to​ ​bounce​ ​price​ ​action​ ​declines,​ ​so​ ​trading​ ​wise​ ​right​ ​now​ ​while​ ​price​ ​is​ ​low this​ ​may​ ​be​ ​a​ ​perfect​ ​opportunity​ ​to​ ​purchase​ ​some​ ​coin​ ​before​ ​another​ ​bounce.​ ​If​ ​you’re​ ​one​ ​to trade​ ​hourly​ ​or​ ​daily,​ ​this​ ​would​ ​be​ ​a​ ​great​ ​opportunity.​ ​It’s​ ​very​ ​doubtful​ ​that​ ​Bitcoin​ ​will​ ​stay​ ​in the​ ​lower​ ​$4000’s​ ​areas​ ​as​ ​it​ ​has​ ​already​ ​showed​ ​momentum​ ​and​ ​potential​ ​to​ ​rise​ ​above​ ​$5000, so​ ​while​ ​price​ ​is​ ​in​ ​the​ ​lower​ ​4’s,​ ​this​ ​could​ ​be​ ​your​ ​opportunity​ ​to​ ​make​ ​some​ ​quick​ ​profit​ ​as​ ​this bullish​ ​market​ ​doesn’t​ ​seem​ ​to​ ​show​ ​signs​ ​of​ ​stopping​ ​with​ ​the​ ​influx​ ​of​ ​positive​ ​news.

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