“Bitcoin is too close to a sudden drop”

Block chain Capital expert: “Bitcoin is too close to a sudden fall “

Bitcoin Price Analysis is available Sunday October 7. crypto money sector has been trying to find its way lately. Let’s take a closer look at the BTC price.

Bitcoin Price Analysis Tuesday, October 7
The Father of Crypts is still moving in the 6,500 band preparing for our analysis. In recent days nothing has changed in the the price of Bitcoin. Bitcoin found a soft place does not want to move. It continues its horizontal movements wrapped around the line like ivy.

BTC / USD 4 hours the price view

BTC prices have been gradually falling since May 5, 2018. Not only is it falling, it is also dominating the sector. There may be people wondering why. Let us explain:

There is a simple reason for this. BTC, which is the sole master of the market undisputed, is parallel to all currencies, so that the price movement in BTC assigns the value of all crypts as satoshi value.

Let’s look at the example: Tron from now on. When the value of BTC increases, the value of Tron automatically increases. Even though it is the same value as Satoshi, its value in USD is increasing. Because BTC has rated. This is also the case for other situations. However, there are no examples of this. This rule is valid during a steady climb. In class Bitcoin Taurus BTC attracts the market capital.

As seen within 4 hours BTC / USD chart, we see a larger angle between $ 6,200- $ 6,800 in September, but when we come to October, we observe that the range of movement for BTC is between $ 6,400 and $ 6,600. the price of BTC keeps looking for direction in an increasingly narrow triangle. But the end of the triangle is about to be reached!
We see that the ends of the Bollinger band are looking at each other and the band is narrowing. We expect a serious price change in a short period of time. Bollinger Band’s previous block was on September 24 and fell.
The RSI indicator indicates a stagnation in the dynamics of BTC and we see no superiority in buying and selling.
The MACD indicator is also in the zero zone. That is, the 12 and 26 day moving averages are equal. This point shows that no trend is occurring. The current data is completely neutral. It’s hard to say which way the price will go.

Spencer Bogart, an employee of Block chainentrepreneurship company Block chain Capital and Blockchain capitalist, said in a speech that the price of Bitcoin is almost at an all-time low.
Spencer Bogart, a digital currency and Block chain Blockchain capital employee; Bitcoin said the price was almost at an all-time low.
Ibe We’re about 70% below our peak so I think Bitcoin and the rest of the market is near bottom, ibe Bogart recently said in a program. “Towards the end of last year, when the crypto money market was at the height of the bull market, the bad news had no impact on the markets, ”he added.

Bogart’s estimate of the Bitcoin Price base is close to the estimates of major market players, such as the founder of crypto investment firm Galaxy Capital Management. Novogratz, the founder of Galaxy Capital Management, said in a tweet last month that digital currency prices had bottomed out. Additionally, Novogarts predicted that many institutions would join the crypto industry over the next two to three years, in a speech at the Beyond Blocks conference in South Korea in July.

According to the research carried out; 54% of companies in the market believe that Bitcoin has already bottomed out, hitting the lowest value point this year. At the same time, these traders claim that Bitcoin has high growth potential in the future. 57% of those surveyed said the price of Bitcoin will reach $ 15,000 by the end of 2019.

In recent months, famous investor Tom Lee has reiterated his take on Bitcoin and claimed that the price of cryptocurrency would be between $ 22,000 and $ 25,000 by the end of 2018. At the end of August, Lee suggested a relationship between emerging markets, suggesting that Bitcoin could “explode by the end of the year.”

Disclaimer: The information on this site is provided for discussion purposes only and should not be misinterpreted as investment advice. This information does not in any way constitute a recommendation to buy or sell securities.

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About Douglas Mackenzie

Douglas Mackenzie

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