Bitcoin Stabilises ob 3300 USD Mark

For those who know and trade in cryptocurrenncy they all know that in Tuesday the price of Bitcoin reached an All Time High of 3490 USD but soon after that we saw a slight downfall of the price.

I in my earlier post said that this might be because of many people's selling their bitcoin to earn some profit out of it.

But recently it seems the price if Bitcoin is setting in the 3300 USD mark it's a sign that tells us that some of the peoples who sold their Bitcoin at the ATH are again buying in or someone else is.

When Bitcoin reaches an All Time High it's quite difficult to predict what's next to come because it's totally uncharted territory. Many are telling that it's going to blow up soon but it's not a certainty.

The good news is, the increasing amount of volume could be enough to keep the price above the support line. Furthermore, with the RSI hovering under 30%, it is a sign that BTC is undervalued and has potential for further price increases. Because of the constant volatility and ATH territory, one’s price prediction theories really depend on which indicators one values more.

To finish off on a good note, taking a look on Google Trends we can see Bitcoin’s popularity is on track to hit a new all time high. Google trends has always been a reliable indicator in predicting when more newbies get into Bitcoin, when interest in a cryptocurrency rises so does its price.

I don't know the exact percentage of people in the world who knows about Bitcoin but I can say this that it's very small percentage.

I live in West Bengal (India) and almost 95% of my friends doesn't know what Bitcoin is I tried to tell few people about cryptocurrenncy but they think it's all a Ponzi scheme to take their money.

I will keep trying and hope for the best.

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