The last few weeks have been hard for Bitcoin. A Trader now has calculated that Since the age of 25. October has lost the leading crypto-currency in the average 110,43 $ per day.
How is Bitcoin in 2020? Well, if you look at the weekly Trends, it looks not good – however, a trend could be reversing.
Losses on losses
As a Trader, Anton Kreil (@AntonKreil) writes, Bitcoin is gone since the end of October decreased significantly. He expects that Bitcoin since the 25. October 110,43 $ per day lost. If we perform this linear Trend to the end, it means that Bitcoin is at 25. January 2020 0 $ are.
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Of course this will not happen. Bitcoin “can’t go” to Zero, and charts do not work in a linear way.
It illustrates, however, how weak Satoshi’s can look creation, if you look at the weekly figures. Of the asset to its slow decline continues for weeks and will lose Gains like old chicken feathers.
Nevertheless, there is some hope for bulls, and HODLer.
Bitcoin could still be on course
Bitcoin has today achieved unexpectedly significant profits, and possibly its bearish Downtrend is broken. Market data show that BTC is 0.88% above the daily value – and that’s not the whole story.
The leading crypto-currency today traded early at only 6,600 $ and has exploded since then to its current rate of 7.205$. This is an increase of ten percent in less than 12 hours.
At the end of October and November was definitely a difficult Phase for Bitcoin, but today’s reversal could be a sign that the Trend is changing. Several analysts are convinced that that has already happened.
But remember: the Bitcoin needs to always maintain its bullish divergence, and the day to decide to to confirm the.
Will Bitcoin have to continue to suffer daily losses – or this could be an indicator that he finishes the year strong? The next hour and days will be decisive.