Editor's Picks News

This is not the bottom, panic sale still ahead

Over a month the exchange rate of bitcoin and altcoins is rapidly falling in price, but it was yesterday, December 17, to grow the cryptocurrency by 5-10%, as in cryptosuite talking about reaching the “bottom” and the beginning of market recovery. But, analysts warn, it is a wrong hope, “bottom” is yet to come.

A month ago the rate of $3 000 for 1 BTC was a horror story for captainvalor, today they pray that this mark was bottom. Possible triggering effect a self-fulfilling prophecy, and perhaps (and more likely) that the current price is the result of manipulation. However, the truth is probably somewhere in the middle, as always. But in the current situation, to expect a stop at $3 000 be unreasonably optimistic, says a leading expert of the company “Olymp” Trade Alexey Serov.

“Much more likely one (or more than one) of the pulse wave of sales, which may reduce the cost of BTC in the moment and to 2000$ or lower. Panic sale yet to come. Because the trend in the reduction finally stops at the moment when the last investor who wants to sell, it does,” — said the expert.

Despite all these factors, the current situation represents one of the most interesting possibilities for long-term investment, if you expect that the cryptocurrency sector will continue to exist and develop. This compares with the opportunity to buy the NASDAQ in early 2009, just after the crisis.


Related posts

Vitalik Buterin Says Ethereum Merge Could Happen in August

Jai Hamid

Why is YFI pumping more than its expected range?

Afroz Ahmad

South Korea will impose taxes ICO and cryptocurrency