Scott Melker, one of the most well-known analysts in the cryptocurrency industry, said he is in anticipation of an uptrend for Bitcoin despite the decline and the BTC price to drop down to $ 9,100. Scott Melker, known as The Wolf of All Streets, said he did not expect a return, but the rise could continue.
The analyst said that the risk-reward ratio for Bitcoin was too good to ignore, signaling that the rise was close. Melker stated that Bitcoin was especially affected by the decline of the US stock exchanges, but this is a temporary situation.
Melker thinks rise in Bitcoin is near
Despite this, we may see a new rise soon due to Bitcoin's relationship with the US stock exchanges. Referring to this issue, Melker stated that we can see recovery movements in the US stock markets soon and that these movements can carry Bitcoin back to $ 10,000.
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According to experts, the fact that Bitcoin does not rise especially in such a stagnant economic environment may have occurred. Widespread sales of whales are known to be able to occasionally make changes to the BTC price, and to earn profits by lowering the price.
In the medium term, which is predicted to be at the grip of inflation, the price of Bitcoin is thought to be impossible, and even manipulations may not be enough to stop it.
The Wolf Of All Streets
✔
@scottmelker
· 12 Haz 2020
The Wolf Of All Streets
✔
@scottmelker
$BTC
Bitcoin looks ugly - but I took a long because I like the R/R of a position here. Doesn't mean I think it's reversing, just a ton of upside if It Is. Hoping to see a close above the ascending wedge resistance and back in the range - would make for an epic bullish SFP.