The number 1 of all crypto-currencies can look back today on a successful week. On Wednesday and Thursday, the Bitcoin price rose of 7,800 USD for up to 9.400 USD in the tip. This increase of more than 20% within 2 days to let the euphoria rise, that the next Bitcoin Bullrun with the Halving is in few days.In the meantime, has cooled the Momentum of the Bitcoin rate and BTC listed with 8.850 USD back below the 9,000 mark. But where the journey goes next? This is the beginning of the Bullruns, or the Explosion was this week just hot air? You believe a statistic from the past, then it looks in the next few weeks and months is very bleak.
Bitcoin price could suffer in the next 90 days
In statistics, it is a Twitter Post by the analyst and Timothy Peterson. According to him, there was in the past 14 days where the Bitcoin price as this week, a jump of 1,000 USD or more made. What happened, on average, then, is likely to enjoy a few Bitcoin Fans.7 days to a $ 1,000 Pump the Bitcoin price was an average of 5% in the Minus. 30 days later, there were even -21%, and 90 days later, all of -38%.
#bitcoin has has 14 days where it gained $1,000 or more in a day. Here is what happened in the days that followed. pic.twitter.com/PTJdEGxqKY— Timothy Peterson (@nsquared crypto) April 29, 2020
These statistics should be kept legal, then it could come in the next few weeks, the Bitcoin rate to a sale. The concern is that it could go with BTC and co. only once after the bottom is already starting to grow longer for many in the Crypto-Space. The correlation with the equity markets is high and it should go down, it could be the crest on the Bitcoin supporters.Trade on the worlds leading Social Trading platform!Join the millions of people who have already discovered how it smarter to invest by copying the best investors in our Community, or be copied and as a result, a second income can be achieved. Start now!
Trader can see also in the red
Not only the above statistics therefore points to the red Numbers. The well-known Bitcoin Trader Tony Vays is set, the Bitcoin rate against more bearish. In one of his Youtube Videos he says:
This is only a small resistance, and now we are going to pull us back. The weekly Chart is still strong, but the weekly Chart still has a lot of room to the downside without breaking the weekly upward trend.
Specifically, the means for Vays:
Now, as we have managed up to $ 9,500, is there a Chance that we will just fall to 8,000 dollars. Probably, we will fall even deeper.
According to the Trader it could go even up to $ 7,000 down. According to him, his strategy for the next few weeks looks like he has sold his Long positions after a sell-off of the Dip to buy. Whether this strategy will work out, remains to be seen. In spite of the long-term bullish Forecasts for the Bitcoin exchange rate, is, however, much of this is in the short term, develop in the direction of the South. If you want you positioned in the market, we can recommend you according to our own testing eToro as a Partner.
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