The Bitcoin (CCC:BTC-USD) selloff is continuing with the price of the cryptocurrency still falling as investors see their profits shrink.
Now the biggest questions that investors in BTC have are when will the bitcoin selloff end, how low will the crypto fall, and when will it start rising again? Those are all valid questions from traders likely still holding the digital asset despite the fall.
While we can’t say for sure when the bitcoin selloff will end, it’s likely only a short-term issue. Once it stops, there also might be a period of time where bitcoin hovers around whatever price it ends at. That could have it sitting around at $46,000 per token according to some data.
Let’s talk about the eventual rise of bitcoin because there’s a good chance of that happening once this selloff period is over. Experts still believe it’s a bull market for the cryptocurrency, so traders should expect a return.
In fact, BTC holders will likely see the crypto head higher than ever before. The last time bitcoin fell like this, it jumped up to a new all-time high of roughly $64,900. It’s possible that BTC could return to those levels when it does rise again, reports CoinDesk.
There are also warnings that BTC will have to climb back up to $60,000, or else it will lose its momentum signals and could suffer for months. If that happens, it could be sometime before bitcoin is able to gain back lost ground from this selloff.
BTC is down 9.1% as of Friday morning but is still up 67.9% since the start of the year.
Bitcoin isn’t the only cryptocurrency that has been hit by selloff news.
Several other cryptos have also seen their prices falling lately as well. However, there are those still worth checking out. That includes Dogecoin (CCC:DOGE-USD), Ethereum (CCC:ETH-USD), and PancakeSwap (CCC:CAKE-USD). Check out more about these cryptos below.
More Crypto News
- Top Stocks 2021: If You Only Buy One Crypto, It Better Be Dogecoin
- Ethereum (ETH) Price Predictions: Where Does ETH Go as Bitcoin Dominance Drops?
- How the SafeMoon Crypto Frenzy Is Making PancakeSwap (CAKE) Look Sweet
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.