0
📰 News
1419 views

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

  •  Denis Sinyavskiy
    📰 News

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

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

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

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.

Recommended articles
0
📰 News
124 views

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
    📰 News

    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

Join our Telegram channel to get news even faster!

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.

Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings