Bitcoin price bears a line of $ 10,000
Bitcoin’s latest price indicator is less satisfactory if you do not have a bear. Today, the most digital asset is 32% up to 2019 for high dollars to 13,739 dollars, and short-term action is still too much.
During the last two weeks, Bitcoin has been established on M-Top with US $ 13,739 and $ 13,177. Most traders think that Bitcoin retrace to 61.8% and 50% Fibonacci Retracement level, which is also close to the CME futures gap. It is possible that the group considers the CME’s abyss, causing it to function as a magnet, the price of the BTC is close to $ 8,500 to $ 7,500.
BTC / USD
Traders also noted that as a result of expanding Wikipedia’s expansion, from 4000 dollars to 2019, parabolic trends have long been considered negatively, therefore, the probability of returning 61.8 fibers.
So a short-term perspective is firm. Although some analysts across the sector remain extremely bullish on the Bitcoin long-term action. Let’s see some of the main factors influencing their thinking.
cryptocurrency prices live
Dormant Bitcoin Wallet’s address hit a new all-time high
This week Coin Metrics has published a report on the untapped supply of Bitcoin, which has reached 21% of all time.
BTC is not available
The number of unlimited Bitcoin over the last five years has increased and coins attracted to this category have been opened in 180 dollars and up to 2 years in the same purse. This indicates that Bitcoin is becoming more and more expensive than the exchange average. It can be assumed that if Bitcoin’s price continues to increase, it will be the number of unchanged Bitcoin.
However, everyone does not support this conclusion. The founder of Adam Capital, Tuu Demestere, said:
“I’m not so convinced […] 5 years without renewing your cold storage method for a long time Bitcoin. Imo most of these coins are likely lost.”
While Demeester can be right, taking a deep look at the Coin Metrics chart shows that a number of unspecified coins on the 1800-day and 1-year schedule have noticeably increased compared to the time frame. This increase also corresponds to the increase in Bitcoin prices in US dollars.
Finally, this report shows the correlation of Bitcoin and the amount of cash in the possession of digital assets.
Starting with new bull markets, the data shows the mineral capitulation
On Saturday, an expert cryptologist PlanB spoke on a rather intriguing chart that he and ParabolicTrav worked.