U.Today Franchise
F2Pool
0
📰 News
1317 views

Bitcoin Price Slides to $7,200. Is $8,000 Still Possible?

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Alex Dovbnya
    📰 News

    Bitcoin's recent drop to the $7,200 has evened the playing field for bulls and bears

Bitcoin Price Slides to $7,200. Is $8,000 Still Possible?
Cover image via www.123rf.com
Contents

The Bitcoin price has recently dropped to the $7,200 level, which shattered the hopes of bulls who expected to see the $8,000 level (sorry, Bloomberg). However, the ball might not be in the court of bears just yet. 

BTC
image by coinstats.app

👉MUST READ

Bitcoin Price Likely to Surge to $13,000 after Trading Sideways: Crypto Analyst

Bitcoin Price Likely to Surge to $13,000 after Trading Sideways: Crypto Analyst

$7,400 is important

At the time of writing, Bitcoin is changing hands at $7,372 after experiencing a mild recovery from its today's drop. The $7,400 level is now closely watched by numerous traders. "TraderXO" says that BTC could reclaim its December monthly open if it prints a daily close above the aforementioned price target.

Technical analyst "Crypto Michaël" bets that the orange coin might finally hit $8,000, the level it hasn't seen in almost two weeks if bulls make a push past $7,400. 

👉MUST READ

Bitcoin Price Now Faces Its Do-or-Die Moment. Will It Drop to $6,200?

Bitcoin Price Now Faces Its Do-or-Die Moment. Will It Drop to $6,200?

December could be bloody

Meanwhile, "NebraskanGooner" is less optimistic. His fractal analysis shows that the BTC price could soon plunge to the low-$6,000 range. That said, it would be irresponsible to create one's trading strategy with the help of one recurring pattern, according to the trader. 

Last December, Bitcoin reached the bottom of the bear market at $3,100 that commenced after Bitcoin started plunging from its all-time high of $20,000 that was recorded at the end of 2017.  

Join our Telegram channel to get news even faster!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
CLOUD MININGPromoted
0
📰 News
209 views

Bitcoin Price Momentum Could Be Crossing into Bullish, Willy Woo Trader Explains Why

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Yuri Molchan
    📰 News

    The trader Willy Woo says that investor momentum is turning bullish and that the market is preparing for the upcoming halvening in May

Bitcoin Price Momentum Could Be Crossing into Bullish, Willy Woo Trader Explains Why
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The well-known trader Willy Woo has posted some good news to the community. On his Twitter account, he has published a chart that refers to on-chain analysis and says that it shows a bullish rise of investor momentum regarding Bitcoin.

“The bottom is mostly likely in, anything lower will be just a wick in the macro view.”

The market has started preparing for the approaching Bitcoin halving that is due in May next year, he explains.

Meanwhile, on Friday, the Bitcoin price managed to regain the $7,400 level. At press-time, as per the data from CoinMarketCap, Bitcoin is sitting at $7,576.

👉MUST READ

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls

Bitcoin Price Predicted to

The crypto analyst @CryptoMichNL believes that Bitcoin is going to surge to the $8,000 - $8,200 area soon. However, he adds that after that BTC may well drop back to $6,800 or even to $6,500.

Standard crypto games, he calls it.

Some, however, remain in doubt, whether the halvening of 2020 will get the BTC price to rush North.

 

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

Recommended articles
CLOUD MININGPromoted