Bitcoin prices are back below the $4,000 mark. After recording its peak high, the average prices across global exchanges started declining on August 22. The prices continued slipping down, after opening at $150 below for the day. The currency trading at $3,894, its lower since August 15, when the price hit as low as $3,892.
According to BTC VIX, he is losing confidence in the rally, citing the currency prices are going down below the $4000 mark, four times since ever since surpassing the milestone. He thinks it is because the market is not very keen on pushing the prices higher.
He told the CoinDesk “The bulls are tired.”
The prices of the Bitcoin were predicted to stabilise at the $4,000 mark, according to Mike Kayamori, CEO of Quoine, a Japan-based bitcoin exchange, which now looks otherwise. Kayamori instead sees the price dipping a sign of consolidation and nothing to be panicky about.
According to him, there are chances that the market would go further lower, but the next significant change can be expected around November around the Segwit2x.