Bitcoin Likely to See a Downward Spiral all the way to $7,500

2019-7-28 15:48

Bitcoin has been struggling for weeks now, to keep up with its previous rally from earlier months, all to no avail. Currently trading just a little over $9,500 according to data from CoinMarketCap.

The world’s largest cryptocurrency has definitely seen better days this year as it had recorded a year-to-date high of $13,800 before dropping down to where it is at the moment. However, according to an analyst, the worst might still be yet to come as the king coin could drop further down to $7,500 soon.

Bitcoin Spiral Looms

About a month ago, Bitcoin almost hit $14,000, immediately went back down and has stayed there for quite a while. Even though this isn’t exactly good news, a few analysts really did predict that the coin would pull back before surging again. Still, the near future might be a bit more gloomy.

According to Elixium Crypto, Bitcoin’s unsuccessful shots at >$10,000 might mean a further drop. The analyst tweeted saying:

“We’ve now had 3 failed attempts to stay above $10,000. Odds are in favour of a drop to $7,500. The only thing that can stop this is Tether money printing.”

The Tether Factor

Tether has had a pretty controversial history. Apart from the case against it by the New York Attorney General’s Office regarding an $850 million cover-up involving BitFinex, it has also been accused of playing a significant role in manipulating the price of Bitcoin.

A few months ago, Bitcoin’s price jump above $6,000 appeared to have been directly caused by the Tether treasury’s minting of a fresh batch of the stablecoin, worth $300 million. When this happened, Bitcoin almost hit $9,000.

Also, it was noted that back in October 2018, Tether removed about $300 million of its coin from circulation. The move saw Bitcoin drop at the time, by more than 50%.

Similar to Novogratz

Billionaire bull and Galaxy Digital CEO, Mike Novogratz, said a few days ago that even though he hopes it wouldn’t happen, a drop back to $8,500 for Bitcoin, wouldn’t surprise him. Speaking during a short Bloomberg interview, Novogratz said:

“$8,500 should be the low that holds [and] I’m hoping it doesn’t get down there, but if it does, it wouldn’t surprise me.”

He then went ahead to predict that Bitcoin will revisit its $20,000 all-time high before the year ends.

The post Bitcoin Likely to See a Downward Spiral all the way to $7,500 appeared first on ZyCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Allion (ALL) на Currencies.ru

$ 0.0002904 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0002904 - H: $0.0002904
Капитализация $1.8k Rank 99999
Доступно / Всего 6.199m ALL

all 500 bitcoin way likely see downward

Источник: zycrypto.com

all 500 → Результатов: 126


Dow Nervously Climbs Higher Despite Trump’s Iran Threat

The Dow nervously crept higher on Wednesday, even as President Trump lobbed another threat at Iran over its flagrant violation of the 2015 nuclear deal. Dow, S&P 500, and Nasdaq Target New Records All of Wall Street’s major indices sought to consolidate minor gains on Wednesday – and potentially even set new records before the […] The post Dow Nervously Climbs Higher Despite Trump’s Iran Threat appeared first on CCN Markets

2019-7-3 16:15


Dow Flat-Lines as Stock Buybacks Provide False Sense of Security

The Dow and broader U.S. stock market traded mixed on Wednesday despite news that the United States and China are eager to bury the hatchet on their nearly yearlong trade dispute. Dow Loses Luster; S&P 500 Follows All of Wall Street’s major indexes traded in positive territory through the early afternoon session, reflecting a positive […] The post Dow Flat-Lines as Stock Buybacks Provide False Sense of Security appeared first on CCN Markets

2019-6-27 22:21


Фото:

Hackers target major UK supermarket’s Twitter with phoney Bill Gates Bitcoin scam

Hackers took control of British multinational retailer Tesco’s Twitter account yesterday, urging followers to send Bitcoin to a wallet address and promising to return twice the value received. Luckily, though, Tesco’s followers did not fall for the Bitcoin scheme as no funds were deposited in the wallet address shared by the hackers.

2019-6-25 19:32


Dow Buckles Under Weak Inflation, Hastening Fed Rate Cut Band-Aid

  By CCN Markets: The Dow and broader U. S. stock market headed for a soft landing Wednesday after another batch of disappointing inflation figures pointed to a slowing domestic economy. Dow, S&P 500 Slide for Second Consecutive Day All of Wall Street’s major indexes swung lower on Wednesday, continuing a disappointing end to the previous session and mirroring a slow morning for Dow futures.

2019-6-13 22:19


Dow Booms on Fed Bailout, But Trump’s Ruthless Threats Spoil the Party

By CCN: The Dow bounced by triple digits for the second consecutive day on Wednesday, as the stock market looked to assemble a June winning streak to reverse the fallout from a brutal May. However, as investors pine for a Federal Reserve “bailout,” Donald Trump’s latest international threats and scattershot economic strategy could once again spoil Wall Street’s party.

2019-6-5 17:10


Dow Rally Is a Head Fake Ahead of 50% Stock Market Crash

By CCN: Despite today’s 2% rally in the stock market, critical support levels have been breached that may signal the beginning of a 50% market decline. The Stock Market Is Falling Apart With the stock market trading at its third most expensive level in history, led by outrageously overvalued FANG and growth stocks, it’s only a matter of time before it regresses to its mean valuation.

2019-6-5 05:30


Bitcoin [BTC] outperforms S&P 500 in terms of ‘returns and less risk’ in long-term

Since the beginning of 2019, Bitcoin and the collective crypto-market have been on a roll as the virtual asset ecosystem saw a major change in fortunes after suffering a grueling crypto-winter. Bitcoin [BTC] has been one of the top performers among all crypto-assets and according to data, the largest virtual currency has also dominated the […] The post Bitcoin [BTC] outperforms S&P 500 in terms of ‘returns and less risk’ in long-term appeared first on AMBCrypto.

2019-6-4 21:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru