Could we see bitcoin hit $3700?

The short answer is yes, yes we can because it’s impossible to predict the market and anything can happen.

Now the long answer: The market is crashing! The market is crashing! That’s all we hear today as bitcoin plummets to below $5,500 and Ethereum chases the fall at below $180. These are some of the lowest prices we have seen this year and the only thing on everyones mind is how low will it actually go?The good news is that those insane numbers you keep seeing like $3,700 or $1,000 or even 0 are merely speculation. Nobody actually knows where bitcoin will end up in the coming days, weeks, or even years.

As you may now know, many of these numbers being tossed around come with no merit behind them but that doesn’t mean you should just ignore them.  One of the most important rules of cryptocurrency is to always protect your money. If you just let it free-fall with the market dips, you may just end up in a situation where you lose more than you planned. Always remember to keep stop losses at a spot that will keep you happy.

Around this time in 2017, we saw the beginnings of the bull-run and this has led many people to falsely believe that there will be an equally big bull-run this year. Unfortunately the market doesn’t always work like that, if you look back to 2014 you can see that there was a bear market throughout all of 2015 and then the market started to slowly recover in 2016. Again, historical data doesn’t always reflect what will happen but it is always a good idea to examine each scenario as it stands.

In the meantime, don’t panic and set your stop losses. As always, if you’re using cryptocurrency solely as a means of investment, don’t invest more than you’re willing to lose.