Bitcoin is ending the week in much the same place it was trading Feb. 5 as sideways movement for much of the week sees prices hover just above $8000.
Cross-exchange data from Coinmarketcap shows Bitcoin beginning and closing the past seven days at around $8300, having slid to a low of $6111 Feb. 6 before peaking at $9109 on Saturday, Feb. 10.
The market remains influenced by regulatory activity in major trading markets such as India and the US. Cointelegraph additionally reported throughout the week that press attention surrounding the Indian and US moves was contributing to the volatility.
On social media, traders and commentators had made calls for a reversal in Bitcoin’s fortunes, which began in earnest towards the weekend before support broke above $9000.
I just LOL'ed at those people saying that bitcoin could go down to as low as $3000. Look at the reversals that they are saying, bitcoin is almost crossing $11,000. There are really a lot of "experts" out there, just be careful though, as they might mislead you guys. As far as regulations, yes, it has drastic effect in the market price, but short term. Everyone should look at our investments long term, and whatever happens, bitcoin will bounce back. Everyone is now waiting as to when we are going to hit the next all-time-high, just be patience, eventually we will get there.
