Bitcoin’s Recovery From The Downtrend Was Only Temporal, Bears Return After Break From Longest Losing Streak

Bitcoin has had a very busy year so far. History has shown that it has always been volatile and that nature hasn’t changed. It has reached a high of above $13,000, which was an all-time high for this year and a low of below $8,000 in the same year. Despite this, the cryptocurrency coin has remained at the number one spot since it ascended there. From the Bitcoin price analysis of the past three days, Bitcoin may have halted its downward spiral and may have begun to push upwards but analysts still show a Bitcoin price prediction that tends towards a bullish trend. They believed that the correction period may not be over and the BTC could still slip further down.

Bitcoin News Today – Bitcoin Price Prediction – Bitcoin Prediction – Bitcoin Price Analysis – Bitcoin’s Longest Losing Streak Ends For A While

Over the past week, the price of Bitcoin BTC was influenced negatively by the views and opinions of the US President Donald Trump, the head of the federal reserve and the treasury secretary Stephen Mnuchin. They all believed that the cryptocurrency industry could be used for illegal activities by dubious characters.

Bitcoin BTC reached $11,120 over the weekend but couldn’t hold on to the $11,080 mark and slipped to below $11,000. The BTC is currently priced at $10,460, showing a drop of 1.47%. This drop is still above the lower resistance level and so the BTC can still bull through to above $12,000 if the rise continues. However, researchers and crypto analysts give a Bitcoin price prediction that shows the BTC slipping to the bearish level as the analysts believe that the gathered momentum of the BTC will only stop.

Bitcoin news today learned from crypto analyst Josh Rager who commented on social media that the presented trend of the Bitcoin BTC could be seen as neutral and that the volatile nature of the BTC would return. Florian Grummes, a gold trader, agreed in a published article that a Bitcoin price prediction would suggest that the BTC would either continue to make a sideways correction or drop to about $7,000.

Bitcoin News Today – Bitcoin Price Prediction – Bitcoin Latest Update – Bitcoin May Still Be Set To Take Another Plunge

Analysts and researchers agree that the present Bitcoin price analysis shows that the BTC is overbought and will have to cool off. Florian Grummes believes that the BTC will be above the $6,000 mark and even remain above $9,000. He believed that the $9,000 mark was a comfortable level for the BTC.

The Bitcoin BTC has a market cap of $177 billion and a circulation supply of 17.8 million BTC token. The 24-hour volume maxed at $17.8 billion and the return on investment is 7,242.75%. The RSI is 70, showing an overbought region while the MACD is tilting towards being bearish.

Bitcoin (BTC) Price Today – BTC / USD

Name Price
bitcoin
Bitcoin
$10,347.211.99%

Most forecasters of the cryptocurrency market give a Bitcoin price prediction stating that the current bullish trend will not last and that the price of the BTC is bound for a fall. Others agree that the BTC bullish region will continue to hold and see a rise in the price of the BTC. One thing is certain for the number one ranking cryptocurrency, its dominion over the cryptocurrency market is sure.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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