Bitcoin dropping to 9000$, Market cap suffering 20$ billion dollars
Bitcoin loses his opportunity to test the 10K dollars level last night while the price dropping at $9000 today.
This is not a bad news if we are considering that a lateral trend, otherwise it’s a bad news, especially if we consider the $20 billion dollars loss on the total market cap. Today, the market cap is around 435,000,000,000, and all other cryptocurrencies are following the trend.
Yesterday May 5 Bitcoin reached 9,900 dollars but failed to stand over the 10k, except in the Asian market where, for a few hours, price was higher than 10k dollars per coin. After the close of the asian markets price has dropped to the current level.
No skecpticism, traders and analysts are extremely sure that we are going straight to a sustainable growth of the market, but with some “bumps in the road”. It’s slightly improbable to see a 200% overnight, in fact some signals are bearish for the short period.
It’s quite improbable to see a 200% overnight for a coin, in fact some signals are bearish for the short period according to the Relative Strength Index (RSI).
The RSI gives a relative assessment of the security of a current price esteems from 0 to 100.
So we can suffer next days? probably! but for a better growth in the near future.