Boring $10k Bitcoin holds the line

Last Updated on 23 September 2020 by CryptoTips.eu


Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]

About 17 days ago, we were wondering whether Bitcoin at $10k was a buying opportunity. Ever since then, the limits of Bitcoin’s selloff has been tested multiple times. It sounded like the world came to an end in global stock markets, like a second coronawave had entered Europe and like tech stocks were posed for a steep sell off. But lo and behold, $10k Bitcoin still holds strong and refuses to budge. At the time of writing, it is trading at $10,427.

Although many altcoins have given up their defenses and faced a serious correction (we’ve noted the steep falls of Chainlink, YFI and UNI to name but a few) and even Ethereum is still closer to $300 than it is to $500, Bitcoin refuses to budge.

March madness

Trading within a tight range of $10k to $11k for a few weeks now, it looks like the days of volatility within Bitcoin are starting to become a thing of the past. One therefore has to wonder whether the entrance of major Wall Street investors like Paul Tudor Jones, Fidelity and Grayscale make for a Boring Bitcoin.

For anyone longing for the good old days of wild swings and steep falls, of course March madness and a 50% drop in 1 day is only six months behind us.