The recent crypto crash has shaken the crypto world hard, and everything associated with the term cryptocurrency is in vertigo right now. It might have deescalated a little, but the intensity at the beginning was so fierce, traders, crypto enthusiasts, and financial experts all are in a state of absolute confusion. But a ray of hope has emerged in this dark storm, which is Bitcoin catching up to its value by trading at $38k, the first resistance line has just been crossed, and Bitcoin is finally ready to work with another bullish wave.
The real question to ask here is if the $30k price limit should be treated as support or if the price dip will fall below $20k? This is a confusing element and maybe something to think of in the future, but right now, Bitcoin is definitely shedding some ice and getting back into a hot streak.
Bitcoin is not Fully out of the Deep Waters
If you think that everything will go back to normal and that there will be no further bearish moves, then you need to take a look at the weekly Bitcoin price charts. Every week or so, when Bitcoin takes a positive leap, there is a negative element, too; this kicks the price of Bitcoin even down.
So, it seems that Bitcoin might have to struggle a little more this time to achieve some stability in the long run. This is not like every other scenario where after a bearish run and a price correction, the cryptocurrency quickly bounds back to its stable price point. It is a heavy market crash and should be taken into consideration with its full scalability along with the long repercussions that it is going to leave on the crypto market.
It seems that not only Bitcoin but other various altcoins are making some steady progress. In the last 24 hours or so, the whole crypto market has signalled a positive approach and bullish returns. This might be a start for Bitcoin, but it should be able to get back there, scoring another all-time high or lying close to its last one.