Since around November 2021, Bitcoin prices started going down. It came after a long rally where Bitcoin reached its new all-time high prices. In the recent bearish run, Bitcoin prices dropped significantly, going below the $30K mark. However, things seem to be getting better slowly and steadily. Crypto prices have reached $44,600 to $46,000 over the last week. But the more important factor for Bitcoin is the steady holding within the $42K mark. It shows signs of the market resisting a further fall and prices finally stabilizing. However, it is too soon to say where Bitcoin will head from this point. Over the last few years, the trend has been of rallies and plummets alternatively. Experts now predict that Bitcoin prices in the future will stabilize much more and it will lose its high volatility. The 50-day moving average is now showing signs of recovery, gradually and steadily.
Bitcoin prices dictate the entire crypto market prices to a great degree. When Bitcoin prices fell significantly, so did the price of most other cryptocurrencies. When Bitcoin started stabilizing recently, the effect was soon seen in other cryptos. Shiba Inu, for example, went up by more than 10% in a few hours, before falling and stabilizing. Ether’s prices also increased in conjunction with Bitcoin and are now in a better position. Notably, Cardano failed to recover at all and is still holding just over $1. Many experts have predicted that Bitcoin prices will reach the $100K mark this year. The recent stabilization of prices makes that dream seem plausible.
