Bitcoin breaks its record of the largest dump in a day. Coronavirus has spread globally which has lead to bitcoin dumps. What is the next probable move of bitcoin? A few weeks ago also bitcoin dumped suddenly due to the same reason.
Bitcoin dumps more than 30%
Due to coronavirus bitcoin and all the market has dumped very sharply. In past bitcoin has dumped many times. But this time it dumped almost 30% in just 24 hours which is a record in itself.
Trades between the countries are stopped and peoples are not allowed for the mass gathering. This finally led to the historical dump in the market.
What is the next move?
The next is best for the investors and worst for traders. Bitcoin is too much volatile, and the main reason is a coronavirus. So until and unless a cure is found markets will be down.
Veteran Trader Peter Brandt said in one of his recent tweets that,” If I interpret the chart without bias, I would say sub $1,000.”
According to us, there are no signs of recovery in the market. When news will come that a cure has been found for coronavirus bitcoin will rise sharply.
Our final conclusion is that bitcoin can go maximum to the level of $3000. If it goes below that then it may fall below $1000.
Perfect time to invest
We always say anytime is best to invest in crypto. This is the golden opportunity for all. This price of bitcoin and altcoins we will not see for a long time. So just go and buy bitcoin and don’t forget to buy some altcoins.
If the bitcoin price goes around $10k this year you will still make huge amounts of profits.