Over the last 24 hours, Bitcoin's price dropped $1,000 sending the price below $18,000 key levels.
Source: Blockchain Wallet
Commenting on the price, here's what Gemini crypto exchange CEO, Tyler Winklevoss, had to say:
#Bitcoin street art in the heart of Hong Kong. Spartans HODL! pic.twitter.com/9EK8XOvnw4
— Tyler Winklevoss (@tyler) December 9, 2020
This latest move down might mean that some hodlers are selling off some of their BTC to realize profits.
Most Major coins followed BTC steps wiping Millions of dollars from the crypto market's latest gains.
Source: coinmarketcap.com
Shortly, Bitcoin bounced back as the price recovered above $18,00 levels and trading $18,338 at press time.
Analysts suggest that more price correction movements will follow before the world's first cryptocurrency breaks the $20,000.
Although more downs remain a possibility, a lot of experts and traders think that Bitcoin will continue its rally.
$BTC could fall further, but I think it's better to play long here and put up with drawdown. Longed at $18,280.
— Ki Young Ju 주기영 (@ki_young_ju) December 9, 2020
I'll post some bullish charts showing we can $20k at the end of this year. (or early next year, I think)
