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Crypto Trader Josh Rager Compared Bitcoin Price Pullbacks Before Run-up to ATH

  •  Denis Sinyavskiy
    🤷 Opinions

    Josh Rager noted that a 72% drop in Bitcoin price over 89 days in 2013 brought 1600% growth to ATH, will 2019 be a repeat?

Crypto Trader Josh Rager Compared Bitcoin Price Pullbacks Before Run-up to ATH
Cover image via news.u.today

On his twitter account, popular cryptocurrency trader and analyst Josh Rager shared his thoughts on the current pullback of Bitcoin price from annual highs.

BTC price history repeating?

He compared the price drop in 2019 with a similar move in 2013. Then, Bitcoin moved down for about three months, which we have been observing nowadays since late June. In 2013, the market was also bullish, and the decline was 75% in 89 days. This was followed by a 1600% rise to new all-time highs.

Now we can observe that the price over the past 91 days has decreased by 42% and this figure may increase, says Rager. However, a continuation of the bull trend should be expected next.

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Nothing special there

The analyst notes, that a rollback of 40-50% is not such a big problem for Bitcoin, because in the past there have been more significant drops, followed by growth to historical highs. Josh Rager concludes his thought with the following words:

“This pullback too shall pass and will hopefully make for great buying opportunities in the coming days/weeks.”

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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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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.

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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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