Bitcoin Price Recovers after the Weekend’s Dip

Oct 22, 2018 at 14:37 // News
Author
Coin Idol
The dip was pretty logical as the trading volume usually decreases at weekends.

After its dip to $6,400 over the Weekend, BTC seems to have regained its position as the price increased to $6,535. It seems that the currency has relatively stabilised as nothing extraordinary happens in the market.

The dip was pretty logical as the trading volume usually decreases at weekends. Nevertheless, many traders think the short-term price will remain in the range between $6,500 and $6,800.

Whether it is still unclear where bitcoin would go next, experts believe that if BTC goes beyond the resistance level of $6,800, the price can dip to $6,300 or even $6,000 in short-term.

Still, they advise to refrain from selling on the price low, be patient and wait until the market gets clearer. The forecasts are mostly optimistic as traders home bitcoin will start a short-term rally closer to the end of the year.