Bitcoin Price! Bull Run of April 13, Now Below $9,000।। Post By ~ GPA (Steemlog#41)

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Bitcoin has sunk from $9,720.29 (a height recorded yesterday), down to $8,858.03 at the time of writing. Again, at the time of writing Bitcoin is down 6.06%.

The correction period started yesterday afternoon. Initially, it did look to be similar to the small blip we saw in the wake of the big surge after the 13th of April, however, with the decline continuing into today and no sign of a let up, we can now confirm that this correction period will certainly outlive the last minor one.

This is almost a $1,000.00 decline in just a day and therefore seems to be something we need to worry about. Okay, so Bitcoin’s high value means small slumps look worse than they are but really, as the currency got closer to $10,000.00 we would expect it’s value to continue to rocket up to that point, not hit a decline.

$9,000.00 was a healthy figure for Bitcoin, it suggested that the currency has recovered from the March depression and that a recovery up to $20,000.00 was now a much more realistic prospect. One thing is certain, if Bitcoin can’t maintain itself over a figure of $9,000.00 for a long period of time then $20,000.00 is essentially impossible.

We should consider that not all hope is lost, as quickly as Bitcoin can decline, it can also rack up value at an incredible rate. Perhaps this correction is inadvertently the start of the next bull run, which is expected to take a footing very soon. When this takes hold, we will most certainly see Bitcoin shoot back up past $9,000.00. The big question then, is, can it remain there?

For now, we need to see how the markets behave and see if they can react to this drop. Going into the weekend we may see things level out a bit and hopefully, from there, we may very well see the next bull run take off. Although as it stands, this seems unlikely.

Note: This article has not been source written by @chnadrakant111

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@chnadrakant111