Bitcoin’s (Bitcoin) price dropped to the support region around $3800 on Tuesday after a period of record-setting marching over several past weeks, FX Empire reports.
The price went as low as $3620 but later started to rise again and soon reached well over $3700, even touching above $3800.
Civic CEO Vinny Lingham predicted a few days ago that Bitcoin’s price would plunge to this exact level before restarting to surge ‘to the moon’.
#Bitcoin is going to the moon! Next stop at $3800 for a refuel. Bitcoin Cash is dead! Long live the King! More forks = more pumps! #letsdoit
— Vinny Lingham (@VinnyLingham) August 5, 2017
The rise over $3700 may be the beginning of another upward run.
The push is likely driven by increasing confidence in the market, given the concluding of the SegWit controversy and subsequent activation scheduled for Wednesday.
The market has already seen that Bitcoin can weather complexities well.