On August 4, the crash in the Japanese economy triggered a major price decline in Bitcoin. Later, although the BTC price recovered somewhat and exceeded the $65,000 level, things did not go well. As of today, the Bitcoin price continues to trade below $60,000 again, and three different analysts have important opinions on the subject.
Analysts Comment on Bitcoin
Three analysts who have managed to attract all the attention with their comments from past to present have once again emphasized their views on the downward price movement in Bitcoin. First, the well-known name Ali Martinez, Addressing Bitcoin investors, he stated that the main trend line is at $68,000 and emphasized that the downward movement may continue until this level is broken. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Then Moon, whose name we heard frequently especially during the last bull season, also drew attention to important levels regarding BTC. Pointing to the region between $ 52,250 and $ 50,647 for Bitcoin, the famous Moon emphasized that this region could be the last region to be evaluated in order to purchase BTC at a low price.
In the chart he shared, he stated that the upper formation line, that is, the resistance, was touched twice and the lower formation line was touched 4 times in the BTC price chart, which he placed in the falling channel formation. Moon From here, he pointed to time-dependent candlesticks that showed sharp price movements taking place.
According to the analyst, each process triggers a price movement of more than 20%, while at the same time, he emphasized that the events occur over periods of 20 to 40 days.
Finally, one of the most followed names in the market To Michael van de Poppe When we look at it, he also stated that there could be a downward movement. According to Poppe, the market is experiencing a correction. Although the liquidity areas were cleared during the correction, it still seems that the expected upward movement has not occurred.
Depending on the lack of an upward movement, Poppe said the price could drop to $53,000 or even $49,000, while emphasizing that September is still early.
How Many Dollars is 0.1 Bitcoin?
Amidst all this market activity and analyst comments, it seemed that the Bitcoin price had moved into positive territory. BTC As of writing, the price has risen above $58.200 after a 0.67% increase in the last 24 hours, and was below $57,000 a few hours ago.
It is thought that the statement made by the Fed official may have an impact on the price increase. While the market volume increased from $1.111 trillion to $1.150 trillion after the price increase, the 24-hour trading volume continues to remain above the $35 billion region after a 33.5% increase.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
