Exchanges tracked by Coinmarketcap recorded an average trade price maximum of just under $17,000 earlier Friday before a slight correction saw Bitcoin head back towards $16,000.
The performance is encouraging for holders who have watched profits ebb as altcoin markets continue to surge. The trend marks a pause after several weeks of bearish action for BTC, which did not immediately correct following its dip from $20,000 to around $13,000 last month.
On social media, casual traders were eyeing Bitcoin’s reversal to continue, noting its impact on altcoin markets.
alts bounce because of this…. BTC is a reversal pattern pic.twitter.com/yTOlD8JRih
— Crypto_Ed_NL (@Crypto_Ed_NL) January 5, 2018
Lots of questions flying in right now about #BTC.1. I don’t know when/IF it will keep rising. But, I think it will personally.2. I am waiting patiently. Need patience in this game. I will be buying in when it is even lower. I believe another drop is coming.
— GODFATHER OF CRYPTO (@CryptoGodFatha) January 5, 2018
Optimism from well-known figures has remained unshaken meanwhile, despite newfound investor and mainstream interest in Ripple and continuing publicity maneuvers from Bitcoin Cash proponents…