Why Bitcoin is stalled at 4200-4300, what does it mean, next leg up or down?

in bitcoin •  6 years ago 

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At present, the price of Bitcoin is in the minor supply level 4,333 - 4,780.

When the price reaches the equilibrium level, of course it will consolidate again to determine which party is stronger.

If from the candles above, it appears that the creation of a "higher low" is quite neat, so that the bullish pressure is still strong.

In addition, if we look at the fundamentals from here:

https://www.bloomberg.com/news/articles/2018-11-27/nasdaq-is-said-to-pursue-bitcoin-futures-despite-plunging-prices

Nasdaq remains optimistic to launch the Bitcoin Futures in Q1 2019. In addition, ICE (Nasdaq competitor) also has the same plan. This of course will increase the total market capitalization, and most likely the price will get positive sentiment over the adoption of the 2 investment giants.

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6 years ago by

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      ·  6 years ago 

    Hi.
    It is worrisome that the value of bitcoin is so low but there is hope that its value will rise again vertiginously by the middle of next year.
    that is what is expected.
    Greetings from Venezuela

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        ·  6 years ago 

      yes you are right, Q2 will be the best time to invest in crypto space, but for me Q1 will be the best XD [try to steal the starting point] XD

      thanks for your opinion

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          ·  6 years ago 

        As the value of bitcoin went down from $17,549.67 in dec 2017 to near about $4300 in dec 2018, I think that this is the downfall of the bitcoin and the cryptocurrency market. The difference is $13,200 in less than a year which clearly indicates that major cryptocurrencies are crashing in a sudden and dramatic manner as a result of market collapse, with ethereum, litecoin, and bitcoin cash all following its lead.

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            ·  6 years ago 

          Jan 2017 bitcoin was around $1000 so today its at $4300 ... that's a pretty good gain. The problem is most thought bitcoin was buy today sell tomorrow and make millions or novices buying into the hype they read online. The downturn has nothing to do with bitcoin or the health of crypto in general but more with the greed and/or stupidity of those buying it. Just my thoughts.

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