Bitcoin (BTC) has dropped approximately $1,500 in the past 4 days after the Segwit2x Fork was canceled. This dip was anticipated by many chart analyst as the increase from $6,000 to over $7,000 was believed to be from the upcoming Segwit2x hard fork. It is important to remember that Bitcoin first broke $6,000 at the end of October before running up to over $7,500. We are now back to the value that was established in late October.
So, is this the bottom of the dip before the climb to $8,000 or is there more consolidation needed first? We believe there could be more consolidation between $5,200 – $5,800 before the climb to $8,000. (Note -ProtectingCoin.com is not a professional financial advice provider so please complete your own research, this is only an opinion).