Now that Bitcoin has seemingly found its groove again, there is a good chance the remainder of the day will yield positive momentum. Whether or not further gains will be realized, is difficult to predict as anything remains possible under these circumstances. Right now, the Bitcoin price sits above $5.200 again, yet a push to $5,300 remains rather unlikely.
Bitcoin Price Push Keeps Traders Happy
This morning, it almost seemed as if Bitcoin would drop below $5,000 again and usher in another wave of bearish pressure. Several hours later it almost seems as if this dip never occurred in the first place. No one can claim cryptocurrency markets are boring in any way, albeit they often fail to make any real sense. Today is no different in that regard, but in a positive manner.
As of right now, the Bitcoin price sits at $5.212 and shows signs it may continue to inch higher in the hours to come. This 3.08% increase is already quite impressive given the current circumstances. For now, it would appear BTC happily bounces between $5,000 and $5,250 without any signs of going much higher. It is interesting to keep an eye on, as speculators make some good money playing this range.
On social media, there is still plenty of debate whether or not Bitcoin SV’s recent delistings have any impact on the BTC price, It would be odd to state there is n correlation between these developments. PJ Grube still remains a firm believer of Bitcoin SV, even though the price trend clearly disagrees with him. A curious turn of events which will continue to shake things up on social media for some time to come.
The crypto market has not yet realized what #BitcoinSV #BSV #Bitcoin #bitcoinsvnode has unleashed… There is some serious revamping of the marketplace going on. Rattling some cages and educating some folks. No more speculation just the fundamentals. Love it.
— PJ Grube (@PJGrube) April 16, 2019
Tristan Night, on the other hand, is happy to see Bittylicious follow the lead set by Binance by removing Bitcoin SV from its platform altogether. Some people will argue this process should have occurred on the day this fork was created. However, something has caused major exchanges to take this action now, of all times. It seems to correlate with the Bitcoin value increase, albeit that might be a mere coincidence.
Good job guys, great to see the #crypto community coming together and supporting each other to stand against intimidation from bullies/tormentors. #delistBSV this toxic snake. There is only one #bitcoin #btc , trust the #blockchain @Bittylicious_ @bitforexcom @blockchain
— Tristan Night (@tristanighte) April 16, 2019
Other than BTC price discussions, it would appear some people still see the merit of what Bitcoin represents. ABitcoin.blog highlights the cross-border payment nature of the world’s leading cryptocurrency. It is a feature people often tend to overlook during these times, although some people are still drawn to Bitcoin simply because of its potential in the payments space.
Another attribute of #Bitcoin is its ability to cross borders , which the #bolivar couldn’t compete with.
You start with less wealth if moved at absolute highest point,, no doubt. However, you still control that wealth.
— 𝕒𝔹𝕀𝕋ℂ𝕆𝕀ℕ.𝕓𝕝𝕠𝕘 (@abtcblog) April 16, 2019
For the time being, it is difficult to determine what will happen to the Bitcoin value in the next 24 hours. A continuation of the current trend would be a more than favorable outcome for everyone, although there is a limit as to how high the price can go right now. Surpassing $5,300 in a decisive manner may prove to be a bridge too far, albeit nothing is impossible in this industry.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Image(s): Shutterstock.com
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