In recent years, the war of negative speculation and the positive speculation, which is rampant today has caused a drop in overall cryptocurrency prices. Surprisingly in the first quarter and the second quarter, for the first time fewer people are interested in buying bitcoins. To regenerate the value of bitcoin the solution is it needs more people who adopt this technology to make it more valuable.
This is a decentralized market and we all know how things have been so far for a while now and most especially after the FOMO rush last year which was uncalled for. This is the after math which we actually do not know the rate at which the market is really going to be affected for now and the only thing we can hope for is to see a recovery soon, but as we keep lingering on to the way down, I am not expecting any miracle before the end of the year.
As of now, bitcoin had failed to hold up the much expected $6000 levels and trading right now around $5800 levels. First we need to stop further fall down before thinking about up trend moving. I am expecting bitcoin to test again $10k levels in this July if that happens then we may think about $20k in August.