The markets jumped back up after mid-day trading pushed a selloff, sending some traders into panic mode. After passing $11,000 USD per Bitcoin the price dropped back below $10,000, and then bounded back up to the $11,000 USD price point, showing that the number of coins on the market may not be as high as previously noted.
Having the ability to make large price moves indicates that the supply is lower than before, or that there is more market volume, as more investors try and get into the Bitcoin world.
That said, there was also a new volume high on Bitcoin, with daily trades above the 12 Billion USD range, clearly indicating that Investors are heavily interested in Bitcoin.
The market cap is now at 315 Billion, and at this rate, may reach a trillion USD by the middle of 2018. One noteable fact about the price of Bitcoin is its ability to influence the price of other coins, such that the higher the price of also rises or falls in relation to it.
So what should we expect with these volatile markets? Many of the doubters have since been silenced about the importance of Bitcoin, or it’s strength, as it continues to retain dominance over the market.
Bitcoin Cash and Bitcoin Gold, the two red-headed step children of Bitcoin are also holding their own, with Bitcoin Gold being one of the most under-rated among the group, being traded for approx. 03 BTC, which will likely be a buy option for some savvy investors.