Scary moment: Bitcoin suddenly loses more than 5.000 US dollars!
- From 33.350 US dollars towards 28.000 US dollars!
- Will a longer correction phase now follow or will Bitcoin now make an attempt at the 40.000 US dollar hurdle?
- According to the forecast model: 38.000 US dollars are within reach!
For many Bitcoin fans, it was a terrible hour when the Bitcoin price suddenly fell from over 33.300 US dollars towards 28.000 US dollars. Even if there were a few hints in favor of a correction, there were surprising faces that the Bitcoin fell below the magical 30.000 US dollar limit. As suspected, the new support is in the $ 28.200 area. Resistance appears to be in the $ 34.800 area.
Next stop at $ 38.000?
If you follow AngeloBTC's forecast model, the next bull run will end in the area of 38.000 US dollars. AngeloBTC has repeatedly predicted the price development with its forecasting models - shortly before jumping the US $ 20.000 hurdle, there was a tweet with the two words "up only".
Bitcoin has once again shown that it continues to remain unpredictable. Again and again you have to reckon with so-called corrections, which also arise due to profit-taking. The fear of some Bitcoin fans that SEC lawsuit against Ripple would also weigh on Bitcoin, but seems unfounded; yesterday's “crash” has nothing to do with the cryptocurrency Ripple.
In addition, the Bitcoin was able to recover a short time later. If the Bitcoin price was around 11:30 a.m. in the range of 28.300 US dollars, it went back over 12 US dollars shortly before 30.000 noon. At the current time (6:00 a.m.) the Bitcoin price is 31.500 US dollars.
There is nothing to suggest a longer lasting correction. We at Bitcoin-News.One also assume that it will continue to rise in the next few days and weeks.