Will Market Volatility Lead to Bitcoin’s (BTC) Pump and Dump Moment?

Bitcoin (BTC) has been remarkably growing since the last ten days until yesterday when we saw a sudden fall off in the market of Bitcoin. It went as low as $4959.70 which is even below the support level of $5000 built for days now. The 24-hour span of this sudden crash started with as low as Bitcoin price decreasing by 0.33% to utmost 4.5% when it went below the support level.

According to Bitcoin price prediction, BTC price had been showing a downward trend for a complete 24 hours making huge investors probably skip a breath thinking it to be the start of a bearish trend.

But the scenario doesn’t seem to be such, as the market currently is rising with nibble steps and helping the investors relax on the idea of having a push back market trend.

Currently, the market cap of Bitcoin is 89,660,615,889 USD with the current trading price of $5,082.33 having as low as 0.44% increase from the downfall which is even negligible to notice, though important from the view investors having a relief as they see a green signal; “It is not the crash of the bull market yet.” The 24h volume is 14,494,552,050 USD with a circulating supply of 17,641,637 BTC on 12th April at 11:49 UTC time.

Bitcoin (BTC) Price ChartNot that it was one of those gloomy days in the zone of the crypto market because as evident by the chart of Coinmarketcap above, the day started with a well-off price and then started decreasing leisurely reaching the minimal point possible in a day. Though, it got back to being stable after a point and now is trading $82.33 above $5000 mark.

The market volatility is such that the situation remains in between the bearish and the bullish trend to follow as per BTC predictions. It may turn out to be either of the two or may move stably. Therefore, investors need to pump or dump with proper thought.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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