Bitcoin drops to $10,400 after touching $11,000.

Hope not lost, BTC appears to be gaining strength.

Institutional investors behind Bitcoin’s growth

Trade war effects on Bitcoin price

Iran and Turkey’s influence on BTC

Bitcoin surprisingly dropped to $10,400 after reaching $11,100 in less than 24 hours. The cryptocurrency, dropped drastically and then returned to $10,600 level, Coin Desk data reveals.

With bitcoin trading in this region, it signals that the digital currency is witnessing some corrections. Within few minutes, Bitcoin shed over $500.

There is no doubt that mainstream is now focused on cryptocurrency in general. The way bitcoin boisterously jumped from $9,900 yesterday to $11,100 in less than a day should baffle all and sundry.

But the rate at which institutional investors rally round the digital asset is giving observers optimism that Bitcoin is up for a bull run.

Cryptocurrency pundits like John McAfee, Fundstrat’s Tom Lee, among others are sure Bitcoin is going beyond $20,000 considering the look of things in the sphere generally.

Now that Bitcoin has crossed the psychological mark of $10,000, it did not take the digital asset a complete day to cross to $11,000 and correcting to $10,500.

McAfee and Peter Brandt, who have used over 45 years trading, are optimistic Bitcoin is going further in the market. For John McAfee, BTC is heading towards $1 million.

However, in Peter’s probability trading style, Bitcoin has to touch $20,000 before jumping to $100,000 and then above.

Few days back, Brandt affirmed Bitcoin is preparing to touch $100,000. Afterward, it crossed the $10,000 mark in a surprising manner before reaching $11,000.

Meanwhile, Bitcoin has fallen a bit, but it is still showing signs of growth as the market looks green.

Much institutional investors were not present when Bitcoin first touched $19,800. Today, however, the presence of Bakkt, TD Ameritrade, Fidelity, AT&T, Microsoft, MoneyGram and even Facebook which just launched its digital currency, will give the market a reason to go higher.

One prominent reasons the price of Bitcoin is soaring is the trade war between America and China coupled with the present threat by US on Iran and Turkey. The uncertainty in those countries have given people the advantage to trade Bitcoin.

The present situation across the globe could make Bitcoin go beyond its present level. As analysts continue to see the chance of Bitcoin touching $20,000 sooner than expected, institutions continue to focus on Bitcoin owing to its high return on investment characteristic.