Guys as we all know bitcoins first half was very bad. It started in 2018 with a spike above the USD 17,000 level. However due to a lot of negative market news and other external factors it faced heavy selling interest. As a result, it faced a bearish wave and tumbled by more than USD 10,000. In Feb. 2018, it fell till USD 6,000 and again corrected above 10,000.
This upward trend was capped by USD 12,000 and then again resumed its downtrend. During past few months, the price traded with a bearish bias below the USD 10,000 resistance level. On the positive, there was no substantial decline below the USD 6,000 support area. Recently, the price traded towards the USD 5,650 level but jumped back above USD 6,000.
So now I feel the USD 5,500 - USD 6,000 is a crucial support and bitcoin can make an attempt to recover during the coming months. I think it will go slowly from 6,000 to 9,000 USD and then take a jump back to USD 12,000 to USD 15,000.
Meanwhile, last week, Mohamed El-Erian, chief economic advisor at Allianz, an insurance giant, told CNBC that bitcoin would be a buy if the price falls below USD 5,000. El-Erian sees bitcoin emerging as more of a tradeable commodity than a currency, but doesn't expect it will get all the way back to USD 20,000.
What are your views on this?
Do share your thoughts in the comment section.
@rajat205
i think this is a right time to get into the bitcoin. because i expect atleast 14000$ till the end of 2k18.
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i think second half is more better than 1st half
because lots of good news news coming and every year 2nd half give more profit .
what do you think
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the second half is better than first half if I look bitcoin past then every year 1st half was not good so i think in december we can see bitcoin on top
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Nice study
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hope in the second half we can see bull run
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@aman1595 The second half is always the strongest part of bitcoin. It always perform in the end of year. Maybe it make another ATH this yearq
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Yeah, I too feel that bitcoin might not fall below $5000 as the chances of that happening is very slim. Rest only time can tell. Nice Update.👍
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Calm, cool and relax it will bounce back.
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we should just keep calm couple of days in near future will be good for us and bitcon
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i think we will see some negative trend in jy after that it will be on sky
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@rajat205 I started investing in bitcoin when it was $600 and I saw it go to $20,000. I expect to see that figure again in the 4th quarter of 2018.
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I wish the second half Bring Happiness for crypto market
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