Bitcoin Drop to $8600 levels and lose 12% value in 24 hours (new opportunity to keep Buying BTC)!

By alberdioni8406 | S.O.S | 10 May 2020

The recent volatility caused the Bitcoin price to fell from $9,900 to $8,600 in just 24 hours losing almost 12% of value this Saturday! It's huge reversal to the actual gains in just a day, if we consider that the price in April just jumped to 38% when it was traded for $6,200 and jumped to $8,600.

The trending continued in May and the price touched the $10,000 level in May 8 (2 days ago), but with the recent reversal the price collapsed and lost almost $1,500 for a unit of BTC this weekend and now stabilized in $8,600 levels the same ones registered in past April!

All this movements happens just a few days from halving (1 day and hours) when the miners reward will be reduced to the actual 12.5 Bitcoins to new 6.25 Bitcoins. Which the recent ups in BTC miners earned a good revenue in profits due to Alts in price of the asset, not much as they deserved but with this continues crashes and with reducing in rewards due to halvening most of the small miners will face some difficulties to maintain their business!

With Halvening the cost  to mine a BTC will cost more leading to small players in the Industry to face problems to pay the costs to Mine BTC taking some of them, to switch off they mining equipment or sell off. Of course this is my point of view but I believe that they could arrange immediate solutions to keep their business running with the new rewards after the Halvening. 

All this can be followed after the event happens also the price movement will be a consequence from it and market sentiment at the time, one thing is certain, the demand will still the same or more and the miners couldn't give more to support the market leading the price somehow to pop up!

Particularly I believe that BTC price will rise and this small correction gives any Investor a Gold opportunity to Keep securing BTC, we won't ever find Bitcoin trading in those levels, but agree with me that anyone should do OWN research before investing!

Great Sunday!

*Republished article find also at Uptrennd platform from my authorship here.

#remember to stay safe at home to fight back COVID-19.

**image from pixabay with rights for commercial purposes here.

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