latest Crypto World News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Bitcoin Dropping Under High $8,000s Now “Highly Unlikely”: Here’s Why

Despite the fact that Bakkt finalized a launch date for its much-ballyhooed Bitcoin futures, the cryptocurrency market has failed to rally.
Per the time of writing this, the leading crypto asset is currently trading for $10,150 a piece, down 2% in the past 24 hours. Altcoins have followed suit, posting near-identical losses as bulls have failed to take control of the cryptocurrency wheel.
Related Reading: Will Growing Interest from China Propel Bitcoin’s Price Higher?
As such, some analysts have kept their bearish tone, calling for a potential further unraveling of the Bitcoin price. But, one prominent analyst is making the case that a dramatic move lower is highly unlikely.
Bitcoin Unlikely to Fall Under $8,000s 
Over the past week, Bitcoin hasn’t had the best of times. According to Coin360, the cryptocurrency has shed a shocking 12%, which is a loss that comes in the midst of what many analysts are calling the early stages of a bull market.
Peter Schiff, a prominent gold bug and anti-crypto commentator, has since come out to lambast BTC, touching on how this collapse may imply that the bull run is already over and that a move back to bear market levels is imminent.
But according to a recent tweet from Josh Rager , a prominent industry analyst, this is highly unlikely. In a recent tweet, Rager suggested that Bitcoin’s recent tumult is a clear sign of “one large re-accumulation happening after large players took profits near $14,000”.

IMO, this seems just like one large re-accumulation happening after large players took profits near $14k
Price could drop down again but it's highly unlikely it falls below the 20 MA (blue line) at high $8ks now
ATM, I'll take my chances at scaling in slowly week by week
— Josh Rager 
/*  */

	border:1px solid #ccc;
/*  */
<script src= shares this Contents with License.

Thank you for Share!


Search Crypto News


The latest Top News, from up to 70 Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


24h Most Popular News