[ad_1]
Over the past week, the price of bitcoin has risen from $ 3,901 to $ 4,048, nearly 4% against the US dollar.
The relatively strong short-term performance of Bitcoin has led alternative crypto-currencies to engage in high price movements, allowing the market valuation of crypto to rise by $ 7 billion.
Join CCN for $ 9.99 per month and get an ad-free version of CCN, including discounts for future events and services. Support our journalists today. Click here to sign up.
The market capitalization of crypto added about $ 7 billion last week. | Source: CoinMarketCap
However, while traders, technical badysts and strategists generally remain positive about the bitcoin price trend in the medium term, some traders predict that the dominant cryptocurrency is retaining key support levels in the USD 3,000 region.
Will Bitcoin go down to $ 3,000 or was it the bottom?
Since December 2018, bitcoin has tested the resistance level of $ 4,200 twice and has jumped well over $ 4,000 three times.
Following two attempts to reach $ 4,200, the price of bitcoin fell from $ 3,700 to $ 3,900, unable to maintain momentum, probably due to a lack of capital inflows and volume on the market. Crypto-currency exchange market.
Thus, some traders believe that if bitcoin is not able to demonstrate a promising rally above the $ 4,200 to $ 4,600 range in the near term, it is highly likely that the badet will fall at $ 3,500 and over.
Mayne, a recognized cryptocurrency operator, said:
"If the bulls do not come here soon, I'll have to cut $ BTC sooner than expected. I also do not suspect that the annual opening will take place this time. "
The bitcoin price could test its $ 4,200 resistance line again. | Source: CoinMarketCap
Given Bitcoin's inability to exceed $ 4,200, an operator boldly predicted that the badet could set a new minimum of 12 months below $ 3,122 or even $ 2,000.
"Sale of BTC in the region of $ 4,000 and more if needed. Duration of the exchange: weeks to months. Target: $ 2,000. Noobs buy at $ 4,000 to panic at $ 3,000. The market is a way of transferring money from the impatient patient to the patient. Always has been and always will be, "the merchant m said.
Whether bitcoin goes up or falls in the USD 3,000 region, traders are seeing a high level of volatility due to the noticeable rise in the stock market volume of cryptocurrencies.
According to the trend of bitcoin prices over the next few days, several traders have said that bitcoin could continue to climb gradually to the $ 5,000 region or retest its recent lows.
"The MA volume (bottom) is at historical rebound levels on the 1W. Incoming volatility. Confident in the continuation of the rise, although placed to be well in case of lower prices. Always prepare for the best and the worst case. A bear that I thought is the lack of a highlight in the sale so far, "said an badyst, Crypto Thies. wrote.
However, some badysts also predict that Bitcoin will test the last phase of the bear market at 15 months and found striking similarities between the bitcoin price trend in 2015 and 2019.
Inhale. $ BTC
source: https://t.co/cfPlflNr2B pic.twitter.com/hpOWBazDtX
– lackbeard (@crypto_blkbeard) March 20, 2019
The cryptocurrency industry continues its expansion
Although many operators remain cautiously optimistic about the price trend of key cryptographic badets, including Bitcoin, the cryptocurrency sector is showing signs of growth and expansion.
On Wednesday, Binance, the largest daily cryptocurrency exchange in the world, has enabled Australian users to buy bitcoin from more than 1,300 physical stores, an initiative that could increase the accessibility of crypto-currencies. to a growing market.
[ad_2]
Source link
