Bitcoin Price Is Stagnating Around $10K Without Taking Off, and That’s a Great Thing

Bitcoin price increase needs to be relatively slow to be sustainable.

Illustration by In Bitcoin We Trust

Bitcoin passed the $10K mark again on February 9, 2020. While Bitcoin started the year with a price around $7K, this corresponds to an increase of more than 40% in just 40 days.

In a year of Halving, many people quickly thought that Bitcoin was going to go up to $11K, and then to $15K, before breaking the $20K mark.

Their hopes were quickly dashed when they saw the price of Bitcoin drop back to around $9,700 just 48 hours after the $10K threshold was broken.

And then, the price of Bitcoin soared again to reach its highest level since the beginning of the year at $10,421 on February 13, 2020.

These round trips around the $10K mark therefore question many people.