Bitcoin price quickly bounced back exactly from 3000 USD and now oscillating around 4300 USD which it was previously before hitting 5000 USD.
It is very much obvious that when it hits higher highs so quickly it gives some big retracements before hitting another high.
I hope the Bitcoin price to hit 6K,7K or 8K immediately after the next hardfork which is expected to occur in October I guess.I don't remember the exact date. But before the hard fork as usual some price deeps may be possible.
Bitcoin Price Forecast: BTC Gains 5% in One Week Despite Upcoming Hard Fork
Bitcoin is facing another mutiny in the coming weeks, but you wouldn’t be able to tell that from its price action. The Bitcoin price forecast appears cool, calm, and collected.
What do I mean by mutiny? Well, some of you are old enough to remember the Bitcoin news in June and July. Remember the minor civil war started by a small group of developers that wanted to upgrade Bitcoin’s source code?
You see, for all its hype as a global digital currency, Bitcoin is incredibly slow at sending money. It takes hours, sometimes days, to complete a transaction.
In order to increase efficiency, some developers offered a solution. But once their peers saw that it involved fundamental alterations to Bitcoin’s source code, they resisted. A tug-of-war ensued, forcing the currency to split in two.