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A bit of bearish pressure can still materialize in the world of cryptocurrencies. Especially during the weekend, you never know in advance how markets can evolve. Today, it seems like the price of Bitcoins is taking a day off and is ready to sacrifice some of its recent gains in the process. No big drop is expected at the moment.
Bitcoin price drops to less than $ 5,700
After setting a new historical record for 2019 just yesterday, the value of Bitcoin now faces a slight downward pressure. It is difficult to determine whether traders are simply making profits or whether the market trend is showing signs of a long-term reversal. Whatever the case may be, the price has again dropped below $ 5,700, but nothing indicates that the losses will continue to accumulate as the weekend progresses. .
In the past 24 hours, the price of Bitcoin has lost 1.57% in value. This is a little surprising for some, although the turn of events is rather expected for most veterans. A slight dip like this will not trigger a panic selling moment, as it will give speculators another chance to buy BTC below $ 5,700. That is, they think the price will rebound and increase sooner or later.
Regardless of the evolution of the current market trend, there will always be people who will remain very optimistic. Bitcoin Pizza is a very interesting account in this regard. This user expects a potential price increase of up to $ 2 million at any given time, which would make the current price look like peanuts.
What #Bitcoin risk / reward looks like …
$ 0
$ 100
$ 500
$ 1000
$ 3000BITCOIN $ 5500
$ 10,000
$ 20,000
$ 50,000
$ 100,000
$ 250,000
$ 500,000
$ 1,000,000
$ 2,000,000
$?
$?
$?Yes, please.#crypto $ btc #blockchain #fintech #stocks #money
– ?Bitcoin Pizza? (@crypto_everyday) May 4, 2019
Bully the Bear, on the other hand, is not necessarily convinced that this bullish momentum will remain in place much longer. Depending on how the next few hours play out, there could be a big drop at $ 4,500. This is not something that marketers and enthusiasts would like to see happen, although nothing can be done to fix it if this trend materializes.
$ BTC ventilation on the graph of 4 hours of the recent structure … Strong possibility of a last wick … otherwise we lower to 4,500 from here ..#BTC #btcusd #bitcoin #bitcoinnews pic.twitter.com/Ee1tiIgOIo
– Intimidate the bear (@Bully_TheBear) May 4, 2019
Eduard shares some pretty interesting information. Someone who claims to have obtained episode 4 information from Game of Thrones charges BTC 0.5 billion to interested parties to share this information. This is above all a rather shady offer, but there will always be people who fear such scams.
haha a guy who fled #game of thrones Episode 3, 4 hours before its release, now asks that 0.5 btc flee episode 4. It's good for #bitcoin ? https://t.co/B52fQu8J3T
– Eduard ⚡️ (@eduard_btc) May 4, 2019
Overall, the current trend in Bitcoins is not worrying. Since some of the losses have already been quickly offset, it is unlikely to be the beginning of a downtrend. A slight decline over the weekend is rather normal for the cryptocurrency markets.
Disclaimer: This is not a trading or investment advice The above article is for entertainment and educational purposes only. Please do your own research before buying or investing in a cryptocurrency.
Image (s): Shutterstock.com
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