[ad_1]
The cryptocurrency analyst and economist, Alex Krüger, said that a technical indicator showed that Bitcoin had not been as over-bought since late 2017.
According to Krüger, the last time the relative strength indicator (RSI) was in this territory was December 6, 2017, just before the parabolic increase of Bitcoin from $ 13,700 to almost $ 20,000, which was followed a major correction. Traders often use the RSI to gauge the momentum of a particular asset or market.
Last time $ BTC was this overbought (RSI) on a daily chart was December 6, 2017, with a price of $ 13,700. At the time, a parabolic movement ensued.
– Alex Krüger (@krugermacro) May 11, 2019
At the same time, Fundstrat's co-founder and chief research officer, Tom Lee, highlights his company's research that shows Bitcoin is making the most of its earnings in just 10 days in a given year.
If you exclude the top 10 days of BTC, the digital asset loses 25% per year.
The strong movement this week #crypto and particularly #bitcoin is reminder $ BTC historically generates its annual performance in 10 days. Missing these 10 days and the average return is -25%.
Reminder to #HODL https://t.co/DMF5QLi5kH
– Thomas Lee (@fundstrat) May 11, 2019
At present, the crypto market is a sea of greenery, with Bitcoin up 9.92% to $ 6,861, according to Coin360. Ethereum is up 11.68% to $ 191.43 and XRP up 9.19% to $ 0.3239.
CoinDesk's Omkar Godbole highlights Bitcoin's potential to reach $ 7,400 as analysts look to the future of the altcoin market.
Bitcoin
CoinDesk – The BTC's move towards $ 7,400 could be preceded by a decline in prices
NewsBTC – A short press can support the crypto rally
Ethereum
CoinCodex – Ethereum could exceed $ 200 with a sustained break above $ 190
Captain Altcoin – ETH is the most attractive altcoin of the moment
XRP
AMBCrypto – Long-term support for the XRP at $ 0.29
Cointelegraph – The XRP continues to trade in a range of $ 0.27795 to $ 0.33108
litecoin
Pirate – The approach point for LTC where the market is attractive for fund selection
Captain Altcoin – Is this the perfect time for a long bed?
Bitcoin Cash, EOS, Cardano, Monero, IOTA
NewsBTC – The crypto market reaches 200 billion dollars: BCH, LTC, EOS, ADA analyzes
Bitcoin exchange guide – Ethereum, IOTA, Litecoin and Monero lead gains in altcoin
Join us on Telegram
Follow us on twitter
Discover the latest titles
Disclaimer: The opinions expressed in Daily Hodl do not constitute investment advice. Investors should exercise due diligence before making high risk investments in Bitcoin, Cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling crypto-currencies or digital assets, and the Daily Hodl is not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
[ad_2]
Source link