Bitcoin has been hanging below $10,000 for over three weeks now, and has even had its bad three days on a row this week, after downgliding to $9,200 in this new week.
This recent volatility in the price of bitcoin has not been pleasing to traders and investors, neither has it been profitable. Most Investors are beginning to have their doubts on the future of the cryptocurrency.
There was a prediction after the second quarter, immediately after the halving, that the coin would hit an all-time high of over $20,000 in price before the end of the year. This prediction is beginning to seem like a myth.
As a result of all these happenings in the bitcoin market, there is every possibility that bitcoin won’t go past $10,000 in price this year, and might go below the present $9,000. This probability right here might be a convincing reason Investors should start mapping out plans on how to sell out their coins, before it all liquidates.
A recent twitter poll carried out by Peter Schiff a Gold-bug revealed that some Investors are still unwilling to let go of their coins even if the price refuses to break out of the $10,000, they added that they are even ready to go to the gave with their coins if it comes to that, rather than selling it out.
And if Investors keep being unwilling to sell their coins, and the bitcoin in circulation becomes reduced, and largely low, it might also affect the price of the coin negatively once again.