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- Bitcoin prices may collapse
- Chinese billionaire recommends hodling
- The volume of transactions is on average 6,000.
Even if the trend is on the rise, Bitcoin could correct itself in the days to come, while the sellers of February 24 return to the cold water on the effort of the bulls. All the same, and according to Zhao, a Chinese billionaire, Bitcoin holders should hold as much as possible when no one cares.
Bitcoin price badysis
fundamentals
According to the US SEC, Bitcoin and Ethereum are the two most decentralized platforms. As a pioneer and growing network, fueled by a global community, Bitcoin represents freedom and a gradual disbadociation of power. However, to trigger dopamine only to own and treat with Bitcoin, we must not bury our heads in the sand.
BTC's trade is illegal in China, but the country has more than 80% of all Bitcoin extraction activities. For this reason, the "The White House, in particular, seems to be thinking about what it means to have 80% of the bitcoin mines operated in China and a majority of the ether extraction activities in China."Said Cory Johnson, former chief marketing strategist at Ripple, during an interview. In total, orchestrating 51% on the network would be counterproductive despite claims that two Chinese pools have the firepower needed to attack the system, even though it is highly unlikely.
Chinese billionaire Zhao Dong, while leaving no room for uncertainty, calls for patience, because if people " do not pay attention to Bitcoin now, they will not pay much attention to most of the time, so for them, only the number of tens of thousands of Bitcoins that will break them will be noticed again"Adding that BTC believers should"hold as much as possible when nobody cares. "
Chandelier arrangement
For coin holders, the moment may be well chosen. However, for traders, the candlestick configuration is a sign of weakness, which means that each higher level should represent a liquidation level in the days to come. It's easy to see why.
A deeper level in the 4HR chart and demand declines as prices stagnate. It is likely that buyers will correct the March 16 overtime extension. As a result, the BTC could temporarily return to $ 4,000, giving aggressive traders the opportunity to reach the first $ 4,500 goals.
If this is not the case and prices rise above $ 4,200 or Fibonacci's record of 23.6% in December 2018, it is likely that Bitcoin (BTC) may close above 4,500 USD by the end of the month.
Technical indicators
February 24 – 36k against 19k on average – is our anchor bar. From the standpoint of the effort in terms of results, low volumes are driving recent trends and could collapse unless injecting high transaction volumes exceeding prices above 4,200. USD, as indicated above.
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