Was Bitcoin growth just a dead cat bounce?


This year was proved quite miserable for Bitcoin and for other cryptocurrencies. Bitcoin has been seeing ups and mostly downs, resulting in a huge fall and was below $3,500 mark at some time. People were trading in the red. However, things seemingly came into the favor of Bitcoin when the price jumped up by 23%, from $3,200 on 16th December 2018 to $3,949 on 23rd December 2018. We all witnessed a huge spike for the first time in this month.

The spike in Bitcoin has also affected the growth pattern of other cryptocurrencies in the market, flagging them up into Green in terms of trading. One of them was Bitcoin Cash (BCH) , a hard forked cryptocurrency seen over 123% huge increase, up from $78.71 on 16th December to $198.56 yesterday.

The crypto community was looking for the reason behind this surge started from 16th December 2018. Many of them were putting their point of view in this matter, and claiming this growth was nothing but an attempt of manipulating the market pretty similar to a dead cat bounce situation. Lastly, It still remains to see that Bitcoin will hold up this growth or not.

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