The Bitcoin is showing some improvement in its market performance. Its value is hovering around the $850 mark and has to go a long way to touch the $20,000 mark that it achieved in December of 2017. Bitcoin is going through a bearish trend for the past four months.
It reached a three-week high last weekend to close at $8,458. It started the month of April in $6,425. This means it has shown a sharp 30% rise in its value that is making everyone sit up and notice the Bitcoin’s market performance. Many feel that the bearish market of Bitcoin is soon to end and it would turn bullish again.
But, Bitcoin has more to do in the market and its job is just half done. It has to get over the descending trend line that it has established since December 17. There have been a series of low figures for the Bitcoin in the last four months.
Bitcoin’s attempt to get over the scale resistance of $8500 did not take shape on Monday. It started at $8,415 and soon dropped to an $8,100 mark in the morning itself. It looks like it would take some more time for the Bitcoin to get out of the bearish trend and move to the bullish trend.