Bloomberg: Bitcoin price could soon be back at 8,000 USD
After Bitcoin (BTC) reached at the end of last month of 6,600 USD, recorded a strong recovery and grew at the weekend up to 7,800 USD. Even if BTC went back to the time of writing to 7,300 USD, predicts Bloomberg, a bullish future.
Despite the current correction, the Bloomberg reported that “Bitcoin is at least a technical indicator bulls that you may be grateful”. The indicator of the GTI Vera Convergence Divergence Divergence Indicator, which measures Upward and downward movements, and shows that BTC has entered a “new buying trend”, perhaps indicating that BTC is ready to reach the upper end of its trading range above $ 8,000 again.
The fundamentals seem to support this. Tom Lee of the Fund, remarked, occurred in a recently published report to CNBC that the rise in us shares, which are stalls now at all-time highs, creates the conditions for risk-tolerant investors. Bitcoin and other markets that are considered from the classical point of view as “risky” could be supplied with new capital.
Bitcoin is more bearish than bullish?
Despite Bloomberg’s expectation that Bitcoin has climbed back over 8,000 USD, which could lead to a bullish Trend, have claimed some analysts that BTC continue to see a downward Trend, regardless of what the GTI Vera-indicator says. The popular retailer NebraskanGooner has recently stated that Bitcoins weeks-looks like the Chart on the decline, although after the strong downward movement to observe a recovery. The Analyst noted explicitly that BTC had failed, the 99-week simple moving average and a horizontal resistance zone to break through. He also added that the story of an “increased Buyer activity” was a clear mistake, and that the On-Balance-volume indicator have to go through a decline in the repetition test.
#Bitcoin
Weekly looks bearish
Logically one more slight lower low is psychological pain to a lot of people. Plenty of “break-even” and “just below last wick” stop losses to hit
I expect a slow bleed. Lots of dip buying and being stopped out. Then a fast dip with rapid absorption pic.twitter.com/2IyJmwMj0T
— NebraskanGooner📈 (@nebraskangooner) November 30, 2019
Against this Background, the crypto-currency trader, noted that he expects that Bitcoin will see a “slow bleeding” and deeper, which will be dominated by investors that try to buy the Dip and then be stopped. A quote from the above-mentioned Bloomberg article confirms this. Craig Erlam, Senior Market Analyst at Oanda, said to the News Outlet:
It seems that we have seen some gains in Short positions, which have raised the prices. There was obviously a lot more pessimistic moods, and there is nothing on the upswing, indicating a change.
Danger by plus token
More belly Bitcoin could make the pain investors in the plus token Scam from South Korea. As a crypto-analyst noted, could be sold for more 58.000 Bitcoin from the plus token in the next few months on the open market. Plus the token was founded in South Korea in 2018, and was an alleged Ponzi scheme that promised his investors high returns, the “Stock market profits, Mining revenues and recommendation the advantages of” stocks and supposedly three million registered users attracted.
The platform reported was in the course of the summer Broke, and cipher trace that investors estimated to have lost 2.9 billion dollars, as the App and the Exchange of plus went for a token offline. A crypto analyst known in the industry as the Ergo, assessed the total size of the fraud, and said that about 129.000 BTC have already been mixed with “” to make the illegal income in BTC more difficult to track.
Going forward we can use the daily sell estimates and the ~58,000 BTC unmixed total to estimate the duration of the remaining selling at between 1.5 and 2 months.
— ∴ Ergo ∴ (@ErgoBTC) November 21, 2019
Accepted, this amount has been sold, says the Analyst, there are about 58,000 BTC, the estimated $ 430 million in value, which have not yet been placed on the open market.
In June, six Chinese nationals, who were accused of participating in the fraud were arrested in the South Pacific island nation of Vanuatu. Despite the arrests, there were still large movements of BTC with suspected Connections to the alleged crypto-Ponzi-System. Ergo speculated that the associated with the programme sales might already have the Bitcoin market influenced.
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