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Contents
<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h210">A sudden crash</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h346">An identity crisis</a></li></ul>
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According to Bloomberg, the <a rel="nofollow" target="_blank" href="#">Bitcoin price</a> is likely to continue falling as the GTI Vera Convergence-Divergence indicator, which is a handy tool for traders to detect trend reversals, turns bearish for the first time <a rel="nofollow" target="_blank" href="https://www.bloomberg.com/news/articles/2019-04-29/bitcoin-indicator-flashes-first-sell-signal-in-nearly-two-months">since April</a>. Meanwhile, the top coin is struggling to go above the $8,000 level.
<a rel="nofollow" target="_blank" href="#">card</a>
A sudden crash
As <a rel="nofollow" target="_blank" href="https://www.coindesk.com/long-term-support-level-may-struggle-to-revive-bitcoin-price-rally?from=body">reported</a> by U.Today, the price of Bitcoin went down 10 percent on June 5. This plunge threw a spanner in the works for those who expected BTC to touch $9,000 again (and potentially breach the psychologically important <a href="https://u.today/bitcoin-btc-price-predicted-to-hit-10000-in-2019-by-bitmex-ceo-arthur-hayes">$10,000 mark</a>).
The aforementioned drop was allegedly orchestrated by a lone Bitcoin whale who made a quick $15 mln by selling 25,000 BTC and buying it shortly after the BTC price crashed.
If to look at the bigger picture, Bitcoin still had its <a href="https://u.today/bitcoin-price-could-soon-experience-another-push-expert-says">biggest rally</a> since December last month, so this price drop seems like a healthy correction ahead of further gains.
<a href="https://u.today/stock-market-expert-explains-why-bitcoin-is-superior-to-gold-and-what-pushed-btc-price-to-9000">card</a>
An identity crisis
According Greenwich’s Jake Stolarski, the cryptocurrency market is currently experiencing “an identity crisis”:
<blockquote>
The market is in an identity crisis, trying to find a place to stabilize. The key technical levels have been creating market volatility, for sure, due to sudden shifts in sentiment.”
</blockquote>
On a positive note, Bitcoin’s UTC close price <a href="https://u.today/bitcoin-price-will-collapse-if-it-closes-below-its-30-day-ma-today">managed</a> to stay above its 30-day MA, which is likely to prevent another major pullback in the short-term. The top cryptocurrency remains in limbo ahead of its next decisive move.
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Twig\Template->render(Array, Array) (Line: 40)
Twig\TemplateWrapper->render(Array) (Line: 53)
twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array) (Line: 474)
Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1002)
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Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
Twig\Template->display(Array) (Line: 379)
Twig\Template->render(Array, Array) (Line: 40)
Twig\TemplateWrapper->render(Array) (Line: 53)
twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
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Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
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Contents
<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h210">A sudden crash</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h346">An identity crisis</a></li></ul>
Advertisement
According to Bloomberg, the <a rel="nofollow" target="_blank" href="#">Bitcoin price</a> is likely to continue falling as the GTI Vera Convergence-Divergence indicator, which is a handy tool for traders to detect trend reversals, turns bearish for the first time <a rel="nofollow" target="_blank" href="https://www.bloomberg.com/news/articles/2019-04-29/bitcoin-indicator-flashes-first-sell-signal-in-nearly-two-months">since April</a>. Meanwhile, the top coin is struggling to go above the $8,000 level.
<a rel="nofollow" target="_blank" href="#">card</a>
A sudden crash
As <a rel="nofollow" target="_blank" href="https://www.coindesk.com/long-term-support-level-may-struggle-to-revive-bitcoin-price-rally?from=body">reported</a> by U.Today, the price of Bitcoin went down 10 percent on June 5. This plunge threw a spanner in the works for those who expected BTC to touch $9,000 again (and potentially breach the psychologically important <a href="https://u.today/bitcoin-btc-price-predicted-to-hit-10000-in-2019-by-bitmex-ceo-arthur-hayes">$10,000 mark</a>).
The aforementioned drop was allegedly orchestrated by a lone Bitcoin whale who made a quick $15 mln by selling 25,000 BTC and buying it shortly after the BTC price crashed.
If to look at the bigger picture, Bitcoin still had its <a href="https://u.today/bitcoin-price-could-soon-experience-another-push-expert-says">biggest rally</a> since December last month, so this price drop seems like a healthy correction ahead of further gains.
<a href="https://u.today/stock-market-expert-explains-why-bitcoin-is-superior-to-gold-and-what-pushed-btc-price-to-9000">card</a>
An identity crisis
According Greenwich’s Jake Stolarski, the cryptocurrency market is currently experiencing “an identity crisis”:
<blockquote>
The market is in an identity crisis, trying to find a place to stabilize. The key technical levels have been creating market volatility, for sure, due to sudden shifts in sentiment.”
</blockquote>
On a positive note, Bitcoin’s UTC close price <a href="https://u.today/bitcoin-price-will-collapse-if-it-closes-below-its-30-day-ma-today">managed</a> to stay above its 30-day MA, which is likely to prevent another major pullback in the short-term. The top cryptocurrency remains in limbo ahead of its next decisive move.
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Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
__TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
Twig\Template->display(Array) (Line: 379)
Twig\Template->render(Array, Array) (Line: 40)
Twig\TemplateWrapper->render(Array) (Line: 53)
twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array) (Line: 474)
Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1002)
__TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
Twig\Template->display(Array) (Line: 62)
__TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
Twig\Template->display(Array) (Line: 379)
Twig\Template->render(Array, Array) (Line: 40)
Twig\TemplateWrapper->render(Array) (Line: 53)
twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
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Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
Arman Shirinyan
