The Bitcoin price fell below the important mark of $ 6,000. After the brand has held in the last days is broken in the previous night from Saturday to Sunday. So, what’s next?
In the period from the beginning of January to beginning of February the price of Bitcoin recorded the deepest fall in the year 2018, as this fell from around $ 17,000 to just under 6,000 USD. This year low was broken last night, as the BTC price was a value of around 5,800 USD.
The RSI value is around 23. Values with a RSI below 30 indicate to normally, this is oversold in the market. Some analysts adjust these values, however, in a bear market 20.
In the last 12 days, from 29. May to to 10. June the Bitcoin price and the Rest of the crypto currency seemed to have the market temporarily stabilized. A further downward trend seemed to be halted. However, there was on 11. In June, we reported that a new massive sellout that led to the price of BTC fell from 7,700 to 6.670 USD. In the last night there was a re-sale, which caused the BTC price to 5,800 USD to fall.
The price trend of BTC developed so that just as a crypto-currency analyst Willy Woo at the end of may has predicted. Woo explained that BTC is bleeding out due to the extreme volatility of the market and the low daily trading volume of BTC will probably go up to $ 5.500.
Currently, many analysts see a bottom at about $ 5,000. Some analysts, however, are also far more pessimistic and see the ground far below the $ 5,000-to-market.
One of these experts, Luis Carranza, the founder of the London Fintech Week, the to Express.co.uk said that it can go even deeper. Nevertheless, there are, in his view, many reasons to stay long-term bullish. He said:
Crypto is unpredictable. There are massive peaks and losses. $ 4,500 could be the low point, but nothing prevents you from 2,500 USD to be the low point. When crypto becomes more Mainstream, it will tend to be the price to rise again. Even if the price falls to $ 1,000, there is nothing that prevents a further increase to 14,000 USD.
For Carranza, the current problems of the crypto-currency market pain is the result of the necessary “growth”, as in the crypto-industry maturation has to take place in the market is of the “silly” capital-adjusted and smart, and smarter investors will be replaced.
From our point of view, it seems to be important to keep the $ 5,000 mark. A decrease of $ 20,000, the all-time high of BTC, on $ 5,000 would mean a decline of 75 percent from the all-time high, making the correction even more would fail, as in the year 2014.
Ultimately, Carranza has but also with his statement right. As we wrote yesterday, said Charles Hoskinson, Co-founder of Ethereum and co-founder of Cardano, that trillions of dollars of institutional investors are waiting currently only available in the crypto-flowing market. Wall Street should have, in our view, a strong interest in a market that has lost 70 to 80 percent of their value. In this respect, it seems from our point of view, only a matter of time until the bull returns. What happens until then, but there seems to be unpredictable.
Disclaimer: — trading in crypto-currencies carries a large financial risk, and can be up to a total loss of the invested capital. Coin-hero.de does not constitute investment advice and recommendation within the meaning of the securities trading act (WpHG). The website content is intended solely for the Information and entertainment of the reader. The statements made here represent only our own opinion and not a recommendation to buy. Please do your own research, before you invest in crypto-currencies. We do not accept any liability for any kind of damage. Please also read our disclaimer in the imprint. —