Bitcoin (BTC) price maintains fragile stability

Bitcoin (BTC) is known for a lot of things. It is the first cryptocurrency, which also makes it the oldest. It is the largest coin by market cap in the entire crypto industry, and it is almost synonymous with cryptocurrency.

One thing that BTC is not known for is its price stability — and indeed, even now, its price does not stand perfectly still. However, for over a month, BTC has been a lot more stable than he was at any point earlier in 2020.

Bitcoin in 2020

Bitcoin started growing as soon as 2020 had started. The coin's price did not waste any time, and it surged past numerous resistances. going from barely above $7,000 on January 1st, all the way up to, and above $10,000 by mid-February.

The growth came for a few reasons, such as the coin's halving event, which took place on May 11th. Not to mention that the coronavirus pandemic started hinting at how big of a threat it can become, and a lot of people seemingly predicted that it will have significant consequences on the global economy.

However, it was also the situation regarding COVID-19 that led to Bitcoin's crash on March 12th. Coronavirus fears were already in full swing at this time, and the stock market had already gone down. The crypto industry resisted for a time, but it eventually followed, supposedly due to correlation alone.

BTC after the crash

The crash led BTC to its lowest point this year, at $3,800. However, the coin started recovering fairly quickly, and in about two months, it was back at $10,000, trying to breach this massive barrier and go beyond. In fact, it attempted it several times, but its price always ended up rejected.

Then, suddenly, the coin started seeing more and more stability, while its price managed to remain between $9.100 and $9.400 for the most part. For Bitcoin, this is quite noteworthy, as its price managed to maintain this stability for over a month now.

Conclusion

BTC usually doesn't remain calm for long. Because of that, many expect for it to go up or down, although nobody can tell which way it will go, or when it might happen, so those looking to buy BTC should be ready at any time.