Where is the Bitcoin Price Going?
Where is the Bitcoin Price Going? Although the rises in the crypto money market on 24 December excited the investors, it was unfortunately not long-term.
Even though the crypto money market had a gratifying rise on December 24th, it did not last long. The crypto money market was under the influence of the month of 2018. In the last days of the year, bears did not leave control.
Analysts predict that Bitcoin could drop below $ 3,000. A former IMF economist warned investors that Bitcoin will be able to steal the danger bells again when it falls below the $ 3.190 level. Of course we, would prefer to remain neutral and uninvolved against these claims. Perhaps Bitcoin will re-visit the $ 3,100 band or rise above the $ 4,500 level.
Anthony Pompliano, the founder of Morgan Creek Digital Asset, who was surprisingly justified in previous Bitcoin price estimates, claimed that Bitcoin would drop below $ 3,000 this time. Currently the most important support for Bitcoin is $ 3,460. For any rise in Bitcoin to point to the trend change, the leading crypto currency must remain above the $ 4.239 level. Bitcoin tried to stick at $ 3,800 after the rise of the December 24 wave, but unfortunately did not succeed.
In the past 24 hours, Bitcoin did not manage to hold $ 3,800 and $ 3,700 support. It even fell below the level of $ 3,600 to $ 3,563. The bitcoin price is currently moving below the 100-hour moving average and in the decline zone. If the sales pressure in the crypto money market continues, we can see Bitcoin below the $ 3,500 band.