A few hours to Christmas and the market became green, but just when we thought we’d seen the last great fall of its kind, Bitcoin is not yet done. In the wake of Christmas as well as hours after, the digital asset is in no rush to return to the $4000 price level. Crypto enthusiasts have analyzed graphs and charts, however, no one knows for sure what lies in wait.
Test Support of $3,600 Predicted
As at press time, this coin is valued at about $3,800 which is a significant fall from its $3,900 price a few hours ago. The same can be said about a day or two ago where the price was on the increase and over the $4000 mark. Predictions have been made for test support of $3,600, but if it falls under $3,200, then there will much more tension and anxiety in the market.
Anthony Pompliano, however, seems to be more comfortable at that price range. He revealed in a recent interview that, in the short run, Bitcoin will go under $3,000 before it makes a leap again to stabilize. The crypto enthusiasts also said that this is a transparent and fair digital asset that is based on maths and software codes.
Ethereum Faces a Slight Decrement in Price Change
Ethereum, on the other hand, seems to still be enjoying the joy ride. Despite Bitcoin’s retraction to where it was weeks ago, this virtual asset has maintained its stance on not going below a $100. Like BTC, it moved from about $80 to $137 in the early hours of the morning. As at press time, it is still warming up on the $130 price tag.
Most people have not focused on this digital currency since the market is mostly determined by Bitcoin’s price. This is a digital asset whose miners in China began selling off their mining equipment and blamed it on the low profit the processes yielded.
People are not Discouraged From Investing
That notwithstanding, BTCNN reported on December 21 that most people will rather accept their monetary gifts in cryptocurrency. This is based on a survey carried out by a bank in the UK, and the results showed that Ripple garnered a lot of interest as well as digital assets like Bitcoin and Gemini.
The same can be said about a report from December 19 which states that more people in South American countries have invested in Bitcoin in comparison with 2017. These are people that may be less reluctant to invest given the volatile nature of the market. Notable among these countries are Peru and Columbia.