Recently, it was speculated that the price of Bitcoin is about to go down, as there was lots of active trading going on over the weekend. Some experts took a negative note to the large volume of transactions, and were predicting that the price of the currency would see a downward trend after the weekend was over. And yet, it seems that this isn’t exactly the case, as after the dust has settled, the overall price of the currency has remained relatively stable.
Experts are currently predicting that the price will actually see a slight upward trend at some point, going up to around $260 after it passes its current mean $242 MA mean. There have been reports of $275 price points at some exchanges, although buyers and sellers should keep in mind that the most important reports right now are the ones coming from major exchanges, as smaller ones tend to see a lot more volatility in their trading on a day-to-day basis.
And yet, some are predicting that the currency will see a downward trend if the timeline is extended a little more. While it appears relatively stable at the moment, this situation may not be preserved for too long, and the price may even drop to some unprecedented levels, if predictions are true.
However, those making the negative predictions don’t seem so worried about the future of the cryptocurrency – or rather, of cryptocurrencies as a whole. Because, according to them, the current situation is a transitional phase towards a world that’s much more accepting and supportive of Bitcoin and similar concepts. One of the main issues Bitcoin has right now is not related so much to its trading or price stability, but rather the trust the public has in it as a stable tool for trading.
With the change in public perception towards a more positive view on Bitcoin, it’s likely that the currency will also stabilize in the future, while other currencies may also join the picture and stabilize their own positions at some point. More competition may not be exactly what Bitcoin supporters want to hear about right now, but in the long run, it’s what has to happen for any true progress to occur.
The general consensus among more knowledgeable folks right now seems to be that Bitcoin is setting new precedents that are going to be very important in the overall development of the world’s economy in the future, and the cryptocurrency is doing a lot of good for our financial system as a whole. Whether or not that’s true, it’s difficult to say right now – but Bitcoin definitely seems to be stirring up quite a storm rather successfully.