The Bitcoin price rebounded on the weekend of the psychological 10.000 Dollar mark and loads since then to re-advance a say about how low the price could go, with lasting correction.
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It comes to a deeper correction?
Bitcoin slowly breaks under the support level. Recently BTC has fallen under the 9.700 $-brand, because the previous price level change in resistance zones. The price movements are in agreement with earlier predictions, which provide for a downward movement up to 8.200$.
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The price drop could draw in the next few days quite quickly. The reversal came on the weekend when Bitcoin had difficulties to keep the price of 10,000 dollars. The price slipped further after the crash of 4% on Saturday was caused by a single Trade on Bitfinex.
Even more dramatic from going to predict that Bitcoin will fall below $ 7,000. This means a significant drop, because the level of 10,000 dollars as unsustainable has been proven.
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New recovery is not excluded, but at this time, the BTC changed the mood very quickly. Of Index of 64 points, the “signals greed”, is dropped, the Index is 49 points. Still in the neutral Position, but closer to the negative mood.
Halving projections, mostly in the long term
Bitcoin began its dramatic decline of 9.611,59 $ on Monday and accelerated a downward trend. The pre-match say with earlier views, that the increase to $ 10,000 was the end of an investment cycle.
The immediate forecast for Bitcoin sees a decline to a minimum of 9.500$. This level could easily be achieved, since BTC is fallen within an hour at 9.549,08 $.
Also, the halving is gaining more and more importance – there are still 85 days until the block reward falls to only 6.25 BTC. At this time, there is still hope on a long-term rally. In the short term, the analysts reckon, however, with more days in the red.
BTC trade, with a peak volume of about 47 billion dollars, while the leading Stablecoin Tether (USDT) is able to capture the selling pressure. The rapid price movement has led to the USDT activity has increased in the last 24 hours to over $ 65 billion.
The current correction follows two months with a rather optimistic price movements. The overall maintenance is a year-high of about $ 14,000.
But the increase to this level will not take place immediately, and a further steep corrections like this most recent Episode more than likely.
BTC has avoided (as indicated by the price movements in December predicted) the reduction to $ 5,000. However, the last six months show that the leading Coin is in the position to keep for a long time about $ 10,000.