The Bitcoin exchange rate after the Crash, what’s next?

The selling pressure of the bears on the Bitcoin market seems to have once again subsided. After the price fell yesterday within a very short time to 8.400 USD, the BTC price in the last few hours, again relatively stable at this level.

The Bitcoin price is currently above the 200 Day Moving Avrage about 8.390 USD. Analysts are however of the opinion that you still need larger movements for Bitcoin could impact upwards or downwards. While some experts, the sudden rate decline of about $ 1,200 as an opportunity to buy the “Dip”, many experts are more bearish. In the following, we want to give an Overview of the current market sentiment.

Tone Vays said that

the most likely path at this point, a renewed increase is back in the area of the Rüclsetzers (approx. 9450 $) is before another setback takes place.

Vays also quoted the well-known crypto experts, Willy Woo, says due to earlier Bitcoin movements to predict that BTC is still in a bull market. Willy Woo, the 200 Day Moving Avrage is never reached while we were in a bull market. And he believes that we are in a bull market. Vays predicts, however, that “strange things can happen in a bull market, the unprecedented,” and a decrease to 5000 USD is also likely. In terms of technical chart analysis Vays says that he expects the halfway of the waste triangle ends at 7000 USD, so that there is a reversal of the trend.

Zoran Kole, a crypto-trader, and analyst, tweeted,

$BTC bid is 7.5-8k for a Swing. 7.3 the invalidity of Declaration. 7.4 is the last Stand for the bulls before a subsequent 6-9 months downward Chop. Target of 16,000 USD before the end of the first quarter of 2020.

$BTC Bidding 7.5-8k for a swing. 7.3 is invalidation. 7.4 is the bulls last stand before a subsequent 6-9 month down trending chop. Targeting 16k before the end of Q1 2020. #crypto

— Zoran Kole [deleveraged] (@Captain_Kole1) September 25, 2019

The Angel investors, Anthony Pompliano, also continue to be optimistic about the BTC and offers the Community his perspective of things. You ignore Bitcoin critics, says Pompliano. The co-founder of Morgan Creek Digital reminds the Community that this is the first Time that Bitcoin Price is experiencing a Flash Crash. Every Time, when BTC was in the, it reached new all-time highs.

Every time Bitcoin drops 5-10% of the critics come out and start making noise.

Ignore them.

The truth is that The asset is up more than 200% this year and it remains the best performing asset over the last decade.

Haters hate facts and math 🤷🏽♂love it.

Pomp 🌪 (@APompliano) September 25, 2019

The crypto-Angel-Investor who operates under the Twitter nickname of @CryptoWelson, confirmed Pompliano and explained that there were a number of similar BTC Flash crash during the Bull Runs in the past. Moreover, he believes that Bitcoin will reach in October of this year, another all-time high.

There’s no reason to panic. If you zoom out on the daily charts, you’d see that #Bitcoin has seen similar “flash crashes” numerous times during bull runs.

There’s a high probability that in October 2019, we will be a new yearly high… I’ll take that risk! ✅ pic.twitter.com/SQDgIHR5xd

— Crypto Welson 📊 (@CryptoWelson) September 25, 2019

All in all, the mood of the market is therefore still optimistic. Nevertheless, some of Chart is made up of go-to analysts and experts on the possible larger Swings and Intraday trader stands low before 2020. The migration of Altcoins, which increased the dominance of Bitcoin this year, by 20%, also points to further downward movements. Analysts have proposed a further correction of the most important Altcoins, including Ethereum and Bitcoin[BCH] Cash. Josh Rager has tweeted,

The Altcoins could lose over 20%, since Bitcoin reached probably $7ks.

Altcoins

Have seen more selling pressure after the breakdown of Bitcoin – people realize this isn’t likely to be a quick “v” reversal

I expect some alts to see new lows for this year against Bitcoin

Can loose 20%+ more as Bitcoin likely hits $7ks again

(weekly close will tell)

— Josh Rager 📈 (@Josh_Rager) September 25, 2019

According to the well-known crypto-lawyer and General Counsel for Ethereums distributed financial application of the Compound, Jake Chervinsky, the Flash Crash wating for the critics of the Bitcoin ETFs. Chervinsky noted that the Bitcoin went back in a few days without a well-known catalyst to 20%, wherein a majority of the trading activities on Offshore trading platforms with unregulated margins took place, which makes it a bit illogical to ask why the SEC still has concerns about the underlying market.

– bitcoin drops 20% over a few days
– there’s no simple explanation for why
– the drop made big money for offshore unregulated margin trading platforms
trading on those same platforms might’ve caused the drop in the first place
– you’re still wondering why the SEC has concerns?

— Jake Chervinsky (@jchervinsky) September 25, 2019

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