​BTC price shows extreme volatility

​BTC price shows extreme volatility
Jul 31, 2018 by Rico Wise

Today, BTC falls in price by 4%, as both dominant digital currencies and lesser altcoins decrease in price.

Bitcoin was able to bounce back in a matter of hours, almost instantly recovering from a comparatively significant drop. Nevertheless, other dominant digital currencies and altcoins were unable to show the same recovery, decreasing in price in relation to both USD and BTC.

Yesterday, the analysts speculated that BTC price has a possibility of decreasing down to 7,000 USD region because the cryptomarket shows instability.

The expectations appeared to be true as BTC price did fall beyond the 8,000 USD level, but quickly rebounded, which was unexpected for a major number of cryptotraders.

Some financiers have claimed that in the middle term BTC is likely to make a price rally to 9,400 US dollars, which seems a plausible development, considering how Bitcoin has tried out the 10,000 US dollars levels twice already.

It is also worth noting the fund movements from dominant digital currencies and lesser market capitalization altcoins to BTC, displayed by the insufficient volume and momentum seen with the majority of digital currencies.