BTC Surprises Analysts in an Interesting Market Correction as Short Term Bull Run Surfaces

2019-7-27 10:58

Yesterday’s market update suggested a continuous dip in line with analysts affirmation that Bitcoin may retest prior support levels after crawling back down below the $10,000 mark.

The possibility of Bitcoin taking a downtrend to as low as $8,000 and below was not blind speculation as the past few weeks have shown that the bears are taking charge of price action.

And although the big bull could still continue its decline, an unexpected upswing within the last 6 hours has shot Bitcoin’s price to its current trading price of $10,095 at press time, with nearly 4% in gains against the USD.

The game-changer was a long-standing bullish reversal pattern as shown by Bitfinex’s trading chart, where buyers pushed price all the way up to $10,185, nearing resistance levels of $10,200. Prior to this major upswing, BTC was dragged all the way down to $9,534, shortly after, at around 19:00 UTC, price corrected with a bullish formation that pushed it back up above the $10,000 mark.

With the second half of the year closing in, the cryptocurrency market is anticipating a possible replay of its 2019 all-time high of $13,380 back in June. Although this is nowhere near BTC’s overall high of $20,000 back in December 2017, the rest of 2019 could be a game-changer for the big bull which in comparison to two years ago has dropped by more than 20% in both price and market capitalization.

While some Economists believe that this decline has more to do with BTC not having any intrinsic value, crypto-users are of the opinion that adaptability and regulatory policies are suppressing BTC’s overall growth.

With more and more Millenials pouring into the cryptocurrency space and more institutional investors investing greatly in both cryptocurrencies and its futures, the reaffirmation that cryptocurrency is here to stay has never been more pronounced than this.

The post BTC Surprises Analysts in an Interesting Market Correction as Short Term Bull Run Surfaces appeared first on ZyCrypto.

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market analysts below btc bitcoin run surfaces

Источник: zycrypto.com

market analysts → Результатов: 126


Фото:

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Binance CEO: Retail Investors, Not Institutions, Are Leading the Bull Market

Contrary to popular belief, retail investors are still playing a major role in directing Bitcoin’s price action, says Binance CEO in a recent interview with Bloomberg. Who’s Really in Charge? As Bitcoin briefly touched $20,000 in early 2018, market analysts forecasted that the impending arrival of Bitcoin futures products, a Bitcoin exchange-traded fund (ETF), and the infusion of institutional funding would drive Bitcoin towards $30,000 and possibly $50,000.

2019-7-14 00:16


Bitcoin Bull on 'Junk' Altcoins: '2017 Was a One-Off, We Were Clueless'

As crypto analysts pontificate that the so-called "altseaon" will soon arrive, bitcoin podcaster Peter McCormack has a simple message: Don't hold your breath. The "What Bitcoin Did" host went on a Twitter rampage this week to advance the notion that bitcoin will obliterate the rest of the crypto market, leaving a trail of altcoin bagholders […] The post Bitcoin Bull on 'Junk' Altcoins: '2017 Was a One-Off, We Were Clueless' appeared first on CCN Markets

2019-7-12 17:20


Barry Silbert: This is The Time for Quality Altcoins to Surge with Bitcoin

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2019-7-11 12:35


Market Update: Bitcoin Fails to Trade Above $12,000, Analysts Predict Dump to $9k

Bitcoin may have recovered and traded above $11,200 which depicted a bullish signal, however, some cryptocurrency analysts are still expecting a significant dump in price. An instance is Tone Vays who in a tweet on July 5, 2019, said Bitcoin is yet to surge past a Resistance zone of $12,250 – $12,500, therefore, there is […] The post Market Update: Bitcoin Fails to Trade Above $12,000, Analysts Predict Dump to $9k appeared first on ZyCrypto.

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