From top to drop: Bitcoin’s weekend adventures

During the last weekend, from 2 September 2017 to 3 September 2017, Bitcoin has managed to gain even more value. The market has collectively decided that this cryptocurrency is worth $5,000 – an absolute record in Bitcoin history. The social media was storming with different optimistic tweets and some investors who lamented that if they knew this is going to happen, they would invest in this cryptocurrency long ago.

However, the situation swiftly changed to the opposite: the market has seen the drop almost immediately after Bitcoin reached $5,000. During the following day the overall trend was bearish, but the next day the most popular digital currency in the world became to increase in price again. See the data from Coinmarketcap for additional details.

Source: Coinmarketcap.com

Analysts seem to have not yet fully decided if five thousand U.S. dollars was a complete maximum for Bitcoin, after which will be the drop the Goldman Sachs experienced market expert warned about. Coindesk asked Bram Ceelen, the founder of AnyCoin exchange, and he answered that he believes that some market members need a moment to enter the market and buy some coins before the growth that will be even more drastic than the community has seen and this all is a “bear trap”. Other experts said that previous all-time high values were, too, followed by short waves of drop, so nothing special going on here, they conclude.