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The year 2018 has been without a doubt a difficult time for Bitcoin, which has lost nearly three quarters of its value over the past year. And other cryptomonas have followed the same downward trend in 2018, causing some inconvenience to investors who have decided to put their money in these volatile instruments. But until now, 2019 has been a much more generous year for cryptomonas investors.
In May, Bitcoin experienced unusually strong growth in May, following a similar increase to 2017. Since the beginning of 2019, bitcoin has increased by 131.5%, Ethereum by 104.89%, while the DAX index has increased. "Only" 14.32% and the S & P500 with 12.73%.
In the same period WTI crude oil price, one of the most popular products, rose by 29.25%, while the price of gold fell by 0.02%. Of course, those who bought cryptomonades earlier this year are now satisfied with the extraordinary results.
"If we look at the graph below and apply the technical analysis, we can confirm if the bitcoin will be in the bull market when the local resistance level of $ 9,250 is exceeded, while the support level will be maintained the price of $ 7,680, "says Marek Paciorkowski, director of financial markets at Aforti Exchange.
"However, if, in these last days of May, there will be a permanent decrease of $ 7,680 under the support level mentioned above, the decreasing trend channel will confirm its predominance, which means that instead in a bull market, we will see price declines and we will have a bear market.With regard to lowering the price of bitcoin below this threshold, we set minimums similar to those of end 2018 and early 2019 when the price of Bitcoin oscillating around $ 3,400 ", says Marek Paciorkowski.
- The bull market refers to the situation of a financial market where prices are rising or expected to rise.
- time bear market (bear market) is his opposite bull market – a financial market where prices are falling or are expected to fall.
- using Taurus and carry describe the markets comes from the way animals attack their opponents – A bull grabs his opponent in the horns and throws him in the air while a bear poses his opponent with his paws. These actions are metaphors for the movement of a market.
"The current movement of bitcoins and the 10% increase in daily value reminds us a lot of the bull market for cryptomonas in 2017, when large profits could be made in a very short time." the strong growth of the price of bitcoin 2017, let us not forget the sharp correction made in 2018 when many of those who invested in bitcoin at their maximum value have lost their capital.The evolution of the next three days we will help you better understand where to turn bitcoin and whether you are disappointing again or, on the contrary, rewarding investors, "says the representative of Aforti Exchange.
- The content presented in this article is the opinion of Marek Paciorkowski and does not constitute an investment recommendation.
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