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!
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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".
Crypto investments are managed by eToro (Europe) Ltd. offered and the custody is carried out by eToro Germany GmbH. Your capital is at risk.
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.
Crypto investments are managed by eToro (Europe) Ltd. offered and the custody is carried out by eToro Germany GmbH. Your capital is at risk.
Summary
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.
