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By the beginning of April, Bitcoin had earned more than $ 1,000 in the space of an hour, giving crypto investors a bullish taste since the beginning of 2019. That rally was enough to get traders and analysts to call the most active funds. and claim that a new uptrend has been confirmed.
However, last week, New York's attorney general's office accused Bitfinex of using Tether's reserves to cover up a loss of $ 850 million, which caused a great panic in the cryptographic space. The same operators who once asked Bitcoin to test the resistance at $ 6,000, now claim a new resistance test at $ 4,200, at the origin of the rally in early April. And according to a new poll, crypto investors are now equally divided as to Bitcoin's next destination: USD 6,000 or USD 4,200.
Survey results reveal that Bitcoin traders are also divided on Bitcoin price targets
Read any forum, group or social channel of encrypted community and crypto traders do not really lack confusion about the current price evolution and the direction that Bitcoin will take next.
After the longest bear market ever recorded, recent investors in Bitcoins and crypto have been battered and have been conditioned to anticipate a fall in prices after a rally. The market climate is normal after the bursting of a bubble and confirms that the market is in the so-called phase of "disbelief".
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The uncertainty surrounding Tether and Bitfinex could have a significant impact on the overall integrity of the market if the parent company of both companies becomes insolvent or if it is closed by the New York AG office. Fears halted Bitcoin's April rally, and now crypto traders who were once bullish and asking for $ 6,000 now suggest that Bitcoin will have to test the resistance again at $ 4,200 before continuing its upward movement.
While most of the market was bullish, the market is now evenly divided as to the evolution of bitcoin prices. The feeling can be visualized using a Twitter poll shared by the crypto trader Bagsy, who asked the crypto community Twitter which price would be the first: $ 4,200 or $ 6,000.
Who comes first to $ BTC ?
– Bagsy (@imBagsy) April 28, 2019
Surprisingly, even with more than 6,000 poll votes, respondents were also split at the center, with 50% of the votes for each option. With crypto traders so torn by price direction, one side of the argument may be shocked when the price of the main cryptocurrency goes against the direction of their choice.
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The feeling could also be considered positive, because before the recent Bitcoin rally, most of the bearers claimed prices below $ 3,000, which is a trough for Bitcoins. At present, even the most bearish traders are warming up to the idea that the bear market has ended.
Selected image of Shutterstock
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