The bitcoin (BTC) price suddenly took a big dive today. The price dropped more than 6% in a short time to prices below $ 37,000 at Bitstamp and other major exchanges.
The current price of BTC is $ 32,580.80 . The total market cap is now $ 605,907,972,129.60 . There are 18,597,087 BTC in circulation.
The total market cap is $ 605,907,972,129.60 with a circulation of 18,597,087 BTC .
The recent decline is no cause for alarm. No asset can only go up in price. The graphs below show the price developments of BTC recently.
You can clearly see the dip on the daily chart. The price was nicely above $ 40,000 for some time.
The bitcoin price of last week already shows a different picture. Less than a week ago, the price briefly dipped below $ 30,000.
Due to recent price developments, all long-term charts actually look good. The graph below runs from December 11 until now. The price was still under $ 20,000 at the time! Now we are still well above that.
There have been many big dips in bitcoin’s history. In March 2020, the price even dipped below $ 4,000. BTC’s price chart since 2013 has looked particularly impressive due to recent price developments.
A small selection of the reactions to the decline on Bitcoin Twitter.
— Zac Prince (@BlockFiZac) January 10, 2021
BlockFi’s Zac Prince sees this as an ideal time to buy some more BTC.
There’s currently a dip happening in #Bitcoin.
This is the best time to buy 0.1337 BTC to hold for 2030!#1337Bitcoin
That should be your minimum target amount of Bitcoin to hold for 10 years minimum.
If you hold 0.1337 BTC until 2030, you’ll be part of the global elite.
— Brad Mills ✍️🔑 (@bradmillscan) January 10, 2021
Brad Mills tries to motivate everyone to purchase 0.1337 BTC. That is not a realistic goal for everyone, but these kinds of declines are the time to strike.
Just before the decline, PlanB once again throws the chart of its Bitcoin Stock-to-Flow model on Twitter. Does the price of BTC stay close to this model? For the time being, the price trend follows the model of the anonymous Dutchman.