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RE: Daily Steem Price Update: Steem Fell As Most Altcoins Today, Down 12%
I wouldn't be surprised if Bitcoin touched somewhere around the $5,000-$6,500 before having another huge spike. I think a lot of people come in with the hope of getting rich quick. They buy at the peak freakout and begin to sell.
If it can manage to break 20k during it's next bull run, I can see it hitting 50k. Which as I type I know it sounds crazy, and I could be totally wrong.
I do love a good down day though.
Yup, the majority must be wrong in order to make a bigger move. A lot of new people came in between 10-20k so they are desperately selling and we will see how far down we will go, I think that 7,5-8,6k will be the bottom, but we will see.
only time will tell