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Bitcoin Price In a Sideway Before Next Bull Run: Cryptocurrency Analyst Predicts

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    Crypto analysts compared the fractal of 2018 to today and suggests Bitcoin price found a bottom, and after it will begin to grow.

Cover image via news.u.today

Several well-known cryptocurrency traders and analysts immediately expressed the same idea regarding the movement of Bitcoin price in their Twitter accounts.

Bitcoin price will act the same?

More than two weeks have passed since the Bitcoin price dropped from $9,600 to $8,300; BTC has settled itself in the $8,000- $8,600 corridor. However, the community is expecting the growth of main cryptocurrency and popular analysts agreed that the compressed fractal can signal that Bitcoin has reached the new bottom.

A crypto analyst with the nickname The Crypto Monk compared the fractal in November 2018 to nowadays. Then Bitcoin fell from $6,000 to $3,000, after which the price was sideways for a long time, followed by explosive growth. His idea was supported by another analyst with the nickname CryptoDamus.

More thoughts on BTC

Popular trader Josh Rager expressed a similar idea. He believes that this time the market will not be in a sideways movement for as long as it was a year ago.

Earlier, U.Today wrote that after an unsuccessful test of the $8800 mark, the price of Bitcoin may return to $8000. Therefore, this scenario should also be taken into account.

What do you think about the price movement of the BTC? Leave your thought in the comment section!

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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