Bitcoin and Blockchain Technology in Detriment despite FOMO – Positive March Predicted for Bitcoin

Bitcoin and Blockchain Technology in Detriment despite FOMO – Positive March Predicted for Bitcoin

February 28, 2019 Off Maheen Hernandez By Maheen Hernandez

The fear of missing out is one thing; however, the feeling of dread that the competitor might have a better edge keeps the Bitcoin and Blockchain technology in detriment.

Businesses of all kinds are exploring the potential of blockchain technology. They are prepared to welcome efficiency and better returns.   The branding problem continues to be around though.

Jamie Dimon stated, “This is my personal opinion, there will be no real, non-controlled currency in the world. No government is going to put up with it for long.  There will be no currency that gets around government controls.”

Mario Draghi, Italian economist, stated, “While the Euro’s value is stable, the value of Bitcoin oscillates wildly.” He further added that he would think carefully before purchasing Bitcoin.  He was not supportive of the decentralized nature of Bitcoin, and he blasted it by stating, “ECB backs euro; the dollar is by the Federal Reserve; central banks or their governments back currencies. Nobody backs Bitcoin.”

Brian Moynihan, the CEO of Bank of America stated, “There ought to be a hard look at the policies of anonymous currencies because their ability to track information of money flowing is one that we use seriously against terrorism and as a tool against improper, illegal behavior.”

No matter what analysts have to say about the price and potential of cryptocurrencies, the governments of different nations and the famed faces of the financial world are not ready to accept it for obvious reasons.

Forbes has reportedly stated that the bulls are back.  It is expected that the price of Bitcoin will rise despite the currency bearish trend.

A “buy the dip” mentality was studied in the graph when the cryptocurrency reinforced a bullish triangle breakout, which eventually showing a recovery beyond; thus indicative of scope for recovering beyond $4,190.

If BTC fails to pick up a strong bid in the forthcoming days, the focus will shift towards the primary bearish trend that is currently prevalent.  Despite Bitcoin reaching historically weak month, if the resistance at $4,190 is breached that is a positive sign.

It is expected for March to be a Positive month for Bitcoin. However, historically for 6 out of 8 times, March has been a weak month for Bitcoin. The bolder predictions for Bitcoin doing good are doing the rounds already, whether the Bitcoin will be out in force is that which time will reveal.

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