The Bitcoin price has jumped below the $250 mark and it has appeared to be dropping further since the selling orders were piled up on some primary exchanges. The market watchers consider this price falling as a significant psychological barricade for the price. According to the statistical data from different types of Bitcoin Price Index, it can be claimed that this changing of price can be a significant move of BTC.
It is important to be considered that a warning from the market watchers has also come that if the price does fall below $250, then there could be some noticeable changes in the Bitcoin market. Arthur Hayes from the BitMex firm wrote in his ‘Trading Newsletter’ that after the $250 price level, the $200 mark could be the upcoming resistance level in the BTC market.
It is true that the Bitcoin transaction system has not been that popular in the current time in case of simple transactions. But, the reason behind this is mainly the truth that the cryptocurrency transaction system is comparatively young. In order to increase the popularity of the Bitcoin transaction system, it is more than necessary that BTC should undertake different steps and implement those for the ease of the users. Many of the renowned companies have already started adopting the Bitcoin system, but the number of these companies need to increase.
According to the Bitcoin Price Analysts, it can be said that the next move of BTC is to make the price level fall below $250 (could be $200). Actually, the strategies taken by BTC are highly appreciable since their improvement with the passage of time is certainly significant. This digital currency technology of the Bitcoin industry has a bright future all over the world due to its continuous improvements.