RE: PRICE FORECAST FOR BITCOIN (BTC/USD ON BITFINEX)

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PRICE FORECAST FOR BITCOIN (BTC/USD ON BITFINEX)

in coinauthority •  7 years ago 

The parabolic curve which you had drawn in the graph always reluts in downtrend or is there any particular reason of the downtrend?plz explain

coinauthority
7 years ago by

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      ·  7 years ago 

    Hi @cryptoaid, thank you for the comment. As shown in the graph, we can see the market nicely following the technical movement of Bitcoin. Hence, we can say that the break-down of the parabolic movement is also one of the reasons for the bearish movement of bitcoin as majority of traders are on a bearish side. Furthermore, Bitcoin has been attacked many times by big firms (Jamie Dimon is one of the examples) that caused FUD in the market. Recently, we have also seen the USDT (Tether) FUD in the bitcoin space that caused BTC to drop further. Let's wait and see how this turns out for us and if we get to see some good news in the market, then only we can expect a trend reversal but for now the graphical representation shows otherwise. Let us know if you have more questions.

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