Bitcoin News
By TCA PR
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Should the Crypto Markets Worry for Another Crash of Bitcoin?
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Is BTC Going to Be Bullish?
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This week, the cryptocurrency space seems like in a roller coaster, one crypto asset may surge hugely and then decline the next days.
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Bitcoin (BTC) surged above the $9,000 zone for the first time in 2020 as it breaks out the days of consolidation. At high on Saturday, BTC has reached the $9,200 value.
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However, Sunday wasn’t a perfect day for the cryptocurrency asset due to sudden fell. Bitcoin collapsed 7%, from $9,150 high to $8,600 low.
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During the second half of the previous year, Bitcoin, along with other crypto markets, failed to deliver the best performances.
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Based on the downtrend in the previous seven months, crypto analysts stated that the confluence of signs suggests for a bottom in the market for cryptocurrency assets, especially…
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Many analysts expressed that there are clear signs for crypto bottom’s existence.
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Over December 2019, Bitcoin remarkably exploded higher, making its way to 40% high after overcoming the $6,400 region.
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According to seasoned crypto trader Rekt Tekashi, the current price action of Bitcoin tends to be the same to what have seen in mid-July 2018.
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Using the three indicators, namely Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and Guppy, the analysts compared the market structures of July…
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In the case that BTC will follow the path it took during July 2018, then this means for a flatline tat $7,000s before dropping to the level of $3,000 once again during halving.
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Apart from Rekt Tekashi, another crypto trader said that the recent breakout of BTC is just part of the further drop.
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Apart from bearish arguments happening in the crypto space, some analysts lean bullish.
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Based on crypto analyst Thrillmex’s tweet, Bitcoin rapidly tapped higher on the four-hour chart as it tapped the key support levels of $8,463 and $8,577.
The Currency Analytics
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