- rising to dizzying heights before crashing to catastrophic lows. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. This has hit the market hard, as many believed that cryptos entering the Wall Street would be the real game-changer for digital currencies. Following January 2015, the asset began to rally again. Earlier this year a few people on this sub, r/cryptocurrency and r/ bitcoin stated they're almost certain that BTC will hit 2000. I made a dumbass mistake by not catching the train earlier this year when BTC went as low as 800-820, and now it's nearly double that, the last I checked coinbase it was at 1580. Week after week, month after month, the bad news was piling up, and the prices kept dropping. However, there is also a lot of those who believe that the time is right. The ones at the end of the day that typically get slaughtered the most are the average mums and dads. But, why is Bitcoin going down? Why is, bitcoin going down?
This summer, Bitcoin went up and down multiple times, with its price oscillating between 6,300 and 8,400. One technical analyst, who looks at historical trading patterns to determine future price moves, told cnbc that the 2,800 could mark a level of resistance where the bitcoin pulls back. The investors confidence started coming back, and we even saw an increase in interest in cryptocurrencies. For the latest cryptocurrency news, join our Telegram! Nobody knew who the wallets owner was, and different theories soon piled. Already a volatile cryptocurrency, bitcoin hit a record high when it passed 20,000 in December to the delight of investors. The price is likely to hit 1,780, but could even fall as far as 1,470, Duke told cnbc. Bitcoin, eTF requests that various companies filed.
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Then, in August of this year, things finally started looking. In both instances, they damaged the market, as the investors confidence in BTC wavered. The value of cryptocurrency bitcoin plunged last month, and again last week, amid fears trading could become illegal in a number of countries. The so-called real Wolf of Wall Street, Jordan Belfort, warned the bitcoin bubble will burst and hurt 'honest people' who invested in the cryptocurrency. As such, whatever happens. But after a little recover, the currency now appears stable at between 8,000 and 9,000. Currently, the bitcoin world is in "wave three" and according to Duke's analysis, 2,800 could be the level at which bitcoin begins its fall. Nicola Duke, an analyst at analysis platform Forex Analytix, uses a form of technical analysis known as Fibonacci retracement, which looks at the peaks and troughs of previous "waves" or rallies and falls in bitcoin to get a sense of where the future price. Given that this time the growth seems more assured, I doubt there's going to be a crash, or at least one as severe, in the coming few months, but maybe I don't know the whole deal. However, the positive development soon ended, and now, bitcoin and its altcoins are in another free fall. So she expects this particular wave, known as the fourth wave, to last.8 percent of how long wave two lasted, which means the rally after the correction would start in January. So, many of them cashed out, and the price dropped anyway.
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