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As we see from last few days Bitcoin crash is most hot topic among all the cyrptocurrency traders and the investor who invest their huge capital in this virtual currency. Am not trading in cryptocurrency till now but I have a more than 6 year experience in Forex market am a professional trader in Forex market and I see bitcoin technically and fundamentally Crypto currency is same leverage as Gold and Oil. Gold & Oil is a more risky assets for trading in forex They both have such a high leverage and high return When am start my Career Oil Prices is on $102 Barrel and we see in one day its prices is on $78 Its a huge decrease in their prices so many Banks Multinational & Institution are bankrupt due to highly decrease in prices of oil. Technically & Fundamentally Oil is too much strong at that time when prices is on $102 75% trader sure that Oil is going Soon on 112 or $120 per barrel BUT dramaticaaly in one day their price is fallen on $78. its all due to instantly change in fundamental. all News going in negative because American bring all their Shell Oil in the market to fail Russia and Iran economy .Saudi Arabia also help out America and they also bring their oil in market due to that overflow oil prices decrease its a economic rule that whenever supply of goods are decreases their demand increase due to this prices also increase but when the supply of goods increases their prices decrease.Its law of demand and supply.
Now come on point I see technically Bitcoin is too much strong but fundamentally is little weak because from last one month News are not in the favor of bitcoin first someone hack it and secondly two major Investor South Korea and a japan Multinational company take back all investment from its shares.We see these are the factors that struck bitcoin hardly but when we see technically we find it that its a temporary fall of bitcoin soon its will Retrace near $18000 then its slightly little down in the range of 10000 to 12000 range then its slightly retrace and going fastly toward its target of 35000.
Hope steemrians I hope you guys like it an d find my future posts interesting and follow them.
Great Information about CryptoCurrency Well done!!!!!!!!!
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