Topic: Bitcoin Drops $1,600 Amidst Global Uncertainty. What's next for BTC? - page 2. (Read 278 times)
March 02, 2020, 03:37:01 PM
Today crypto also experienced some gains with most coins being Green. What's worrying to me is that other major coins experience greater gains, but BTC is also in the green nevertheless. It's worth noting that there really wasn't any valid indication of support for levels above 10k USD so anyone claiming otherwise probably wasn't looking at buy/sell walls. Now the real test is lower level support and I think so fat BTC is showing good signs of support. If resistance subsides this time a rally would have better foundations to start on.
March 02, 2020, 03:25:06 PM
I agree with you, the price is still hazy, but let's not forget some positive signs:
- Optimism about havling may lead some to buy more in the hope of a higher price.
- Historically, Bitcoin performed well during the second quarter of each year.
- The price was around $ 3,000 a few months ago so the current decline is just a correction.
- There is no historical resistance at $ 8,000 to the downside, so we will either return to $ 9000 or $ 7000.
- Optimism about havling may lead some to buy more in the hope of a higher price.
- Historically, Bitcoin performed well during the second quarter of each year.
- The price was around $ 3,000 a few months ago so the current decline is just a correction.
- There is no historical resistance at $ 8,000 to the downside, so we will either return to $ 9000 or $ 7000.
March 02, 2020, 12:04:19 PM
But I think what is happening globally on health is exposing the weakness of bitcoin as it has really caused the downslide of bitcoin and altcoins have really been on red since then. Well what next could be that more dump can be speculated as the corona virus gets stabilized, price will improve because investors fear will go off.
March 02, 2020, 05:29:12 AM
As you have said, we are still in the support region of 20 moving average so we are still good.
Those geo political happenings around us should not trigger the worst case scenario. We all know that we are very different from traditional markets, that's why crypto or bitcoin might be a good leverage for financial or even the pandemic scare of corona virus.
Those geo political happenings around us should not trigger the worst case scenario. We all know that we are very different from traditional markets, that's why crypto or bitcoin might be a good leverage for financial or even the pandemic scare of corona virus.
March 01, 2020, 08:10:28 PM
Bitcoin is at an important juncture, sitting on weekly support and the 20 week moving average and yet the global markets seem poised for more downside. Will Bitcoin drop further or recover from here?
Full market thoughts here: https://www.cryptoadvocate.net/post/bitcoin-crypto-market-update-01-04-2020
Full market thoughts here: https://www.cryptoadvocate.net/post/bitcoin-crypto-market-update-01-04-2020
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