General News Bitcoin as stable as a rock!

Bitcoin [BTC] as stable as a rock!


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Bitcoin taking a very neutral course when it comes to market performance. Bitcoin has experienced close to 0% gain in the last 7-day average. It has been very unstable in the range of -2% to +2% today. It keeps dropping and increasing between this range.

Bitcoin, which recently was very close to crossing the $10000 mark is now seeing a very neutral growth rate. It surges at 0.77% in the last 24 hours at the time of writing.

The price has been more or less the same throughout the day, it has surged and declined with a difference of 100 odd dollars. Ranging between, $9250 and $9350, the price has taken a hit since May 6th and since that day has declined by around $600.

The current 7-day average hangs in a balance because of the surge Bitcoin experienced in the first 3 days of the week and the decline it experienced in the last 4 days. Both the surge and the decline are complementing each other really well to keep the 7-day average close to 0. Even in the last 1 hour, Bitcoin has surged only by 0.12% but it is the first time in the day that Bitcoin witnessed green numbers next to its name on the 1 hour scale, 24 hour scale and 7 day scale at the same time.

As far as today is concerned, Bitcoin seems like a very stable cryptocurrency. It has not seen breathtaking surges or declines. Many Bitcoin followers have come compared today’s performance to that of a traditional market security.

George Kennedy tweeted:

“Oh my God! The future is here, Bitcoin is stable, this stability allows it to enter the mainstream so Fuck the people who said its instability will never allow it to be a mainstream currency.”

Many experts believe that a fall back to $9000 or below is highly possible despite the neutral performance given the bearish market. Other cryptocurrencies have suffered quite a bit from this bearish market but the biggest hit was taken by optimists who believed that Bitcoin would cross $10000 and now a likelihood of the speculation of it falling back to $9000 coming true will leave these optimists flabbergasted.

The post Bitcoin [BTC] as stable as a rock! appeared first on AMBCrypto.

Safdarali Rizvi
Safdarali Rizvi the management graduate. Has been an avid book reader all his life so naturally loves playing with his words. His curiosity for discovering futuristic opportunities lead him to explore the world of cryptocurrencies. He has a real passion for calisthenics and sports. His management abilities and hunger for learning brings tremendous value to our team.

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