The 50-day moving average is approaching the 200-day moving average. If they touch, the bitcoin will suffer a great loss.
Considering these trends and comparing these activities with the BTC's price in 2013, technical analyst Paul Day of Market Securities Dubai Ltd. said that the value will eventually fall to $ 2,800. "There has been a definite change over the past few months after overvaluation in late 2017," Day said.
2013 is often remembered as one of the worst crashes in the history of BTC. First, the price fell from $ 233 to $ 67 in April, a 71% drop in 12 hours, so the price has remained extremely volatile in the last two months. It went up and on November 30, 2013 it was costing $ 1,126, but declined 19% in 24 hours, only to recover on December 5, 2013 to $ 1,155. Price continued to decline by 41% and increase by 47%, before dropping to a staggering $ 503 on December 19, 2013. From an all-time high in the first week of December, the price fell 56%. The price drop was such that bitcoin took three years to finally cross the $ 1,000 barrier again.
Fund Strategist Global Advisors technical strategist wrote that "Bitcoin will begin to show evidence of going down to $ 5,873." Charlie Munger, vice president of Berkshire Hathaway Inc., openly called the bitcoin "a harmful poison." Munger also called him disgusting and said he hates him since he was raised.
Meanwhile, bull bitcoin John Mcafee predicts the price will reach $ 1 million by the year 2020. Even Jamie Dimon, president and CEO of JPMorgan Chase, who formerly called BTC, a "bubble" has altered his statements. "I regret making comments that Bitcoin is a fraud. The blockchain is real. You can have yen and dollars and things like that, "Dimon said.
Considering these trends and comparing these activities with the BTC's price in 2013, technical analyst Paul Day of Market Securities Dubai Ltd. said that the value will eventually fall to $ 2,800. "There has been a definite change over the past few months after overvaluation in late 2017," Day said.
2013 is often remembered as one of the worst crashes in the history of BTC. First, the price fell from $ 233 to $ 67 in April, a 71% drop in 12 hours, so the price has remained extremely volatile in the last two months. It went up and on November 30, 2013 it was costing $ 1,126, but declined 19% in 24 hours, only to recover on December 5, 2013 to $ 1,155. Price continued to decline by 41% and increase by 47%, before dropping to a staggering $ 503 on December 19, 2013. From an all-time high in the first week of December, the price fell 56%. The price drop was such that bitcoin took three years to finally cross the $ 1,000 barrier again.
Fund Strategist Global Advisors technical strategist wrote that "Bitcoin will begin to show evidence of going down to $ 5,873." Charlie Munger, vice president of Berkshire Hathaway Inc., openly called the bitcoin "a harmful poison." Munger also called him disgusting and said he hates him since he was raised.
Meanwhile, bull bitcoin John Mcafee predicts the price will reach $ 1 million by the year 2020. Even Jamie Dimon, president and CEO of JPMorgan Chase, who formerly called BTC, a "bubble" has altered his statements. "I regret making comments that Bitcoin is a fraud. The blockchain is real. You can have yen and dollars and things like that, "Dimon said.
Trade closed: target reached