Bitcoin price has gone very stable over the past few weeks. The graph for the cryptocurrency, of late, appears to be a flat line with very few ups and downs. This is a change in pace from all through the past year when the currency was going through frequent fluctuations.
Let us take a closer look at why Bitcoin price has gone so flat all of a sudden. We also explore the possibility of it surging anytime soon. Is a Bitcoin Bull run going to take place?
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Reasons why Bitcoin Price has gone Stable
Bitcoin Price having gone stable is an anomaly compared to what the past 365+ have been like. Given that on most of these days, the graph for Bitcoin was in constant motion. However, it has flat-lined now.
This can only mean one thing. Finally, the bulls and the bears are at par. While there isn’t enough investment from the bulls, the bears aren’t cashing out much either.
Image: Coingape
A market slowdown ends when the bears don’t have enough funds left to sell. This means that the markets are soon about to grow.
Is Bitcoin Going to Boom?
Yes, there is a high chance that the price of Bitcoin is going to surge very soon. While it is hard to quantify it in terms of time, a target of $4000 is being eyed for the first bull-run. Once the target of $4,000 is successfully crossed and maintained, the bulls would invest further. However, the struggle between $3800-$3999 continues to keep the price stable.
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