Bitcoin Price Roars Loud But Could Quickly Unravel to 30% Plunge: Analyst

2019-5-22 22:16

By CCN: Josh Rager, a cryptocurrency trader and technical analyst, expects a healthy pullback for bitcoin based on the historical performance of the asset in the past three years. Since 2016, the bitcoin price has tended to correct by 30 to 40 percent following a strong short-term rally.

Although the historical performance of the bitcoin price is no guarantee of its future trend, coming off of a staggering 100 percent year-to-date gain, despite the strong momentum of the asset, some analysts have suggested the possibility of a large correction. Is a 30 Percent Drop For Bitcoin Possible? Like any other

The post Bitcoin Price Roars Loud But Could Quickly Unravel to 30% Plunge: Analyst appeared first on CCN

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Latest data shows retail Bitcoin wallets can no longer control short-term BTC price moves

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Bitcoin reveals a rare bullish cycle bottom signal before bouncing as futures bears tighten their grip

Bitcoin is flashing its most oversold signal on record amid its continued price struggles in this current macroeconomic environment and persistent exchange-traded fund (ETF) outflows. According to CryptoSlate data, BTC's price dipped to around $62,700 over the last 24 hours, while its weekly relative strength index (RSI) printed roughly 25.

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