Bitcoin Still Bullish!
We have seen a few bad days in the crypto market as the total market cap went down from around 260 billion dollars to 220 billion dollars. Bitcoin fell below the range of $8000 and was once trading around $7800.
Some of the coins did manage to hold their value though. Steem was trading above 20 cents until recently it crashed down to 16.5 cents. Chainlink, however, outperformed all the top cryptocurrencies as it is still trading above $4 and it hasn't lost much value. It was trading at $3.85 for some time but bounced back immediately and is now well over $4 range.
Despite the recent bloodbath, the Bitcoin and cryptocurrency remains bullish according to analysts. Bitcoin is still forming higher lows and there is no sign if bear market yet. According to one of my favorite bitcoin analyst, Kevin Sevenson, if Bitcoin stays above the price of $7700, we are still in the bullish territory. Bitcoin managed to avoid the fall below $7700 only just which is really a good sign.
The recent crash is a result of "plus token" dumping. They moved 13000 bitcoin worth millions of dollars and started dumping them in the market. We are still nowhere near the stability in crypto as a single whale can shake the whole market. I just hope that they are done with their selling for now.
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