Bitcoin sees a big correction, what comes next?
Bitcoin saw an 11% correction overnight yesterday. We don’t want to say it, but, we warn you! What to expect now
Just two days ago we talked about a possible correction in the price of Bitcoin, overnight it became a reality. What should we expect now? Goodbye to the dream of $ 20,000?
End of the world for Bitcoin?
Two days ago we quoted Joseph Young, a contributor to CoinTelegraph, who warned that the indicators were predicting a possible correction in the price of Bitcoin: the Spent Output Profit Ratio (SOPR), the Crypto and Fear Index, the stablecoin inflows and the orders of stacked sales at $ 19,000.
Just yesterday night, almost ready to break its all-time high, the price of Bitcoin plummeted and has since racked up an 11.71% drop over the past 24 hours. In the crypto community, the fall has been attributed to fear, uncertainty and doubt generated by the psychological barrier of $ 20,000.
In fact, Jason Deane, a Bitcoin analyst at Quantum Economics, explained to Decrypt that “the all-time high is a major psychological barrier: breaking it requires real momentum.”
Also, as we previously mentioned in CryptoTrend, the Crypto and Fear Index showed that crypto investors were conditions. And, this is what caused that, when the crypto was around $ 19,000, the whales began to sell and that generated downward pressure, according to Young.
What to do? At the moment the forecasts are not positive for crypto. Again Joseph Young notes that analysts anticipate another drop, especially if the crypto leader does not rebound strongly in the short term.
In fact, Michaël van de Poppe, a famous crypto analyst at CoinTelegraph, assured that the price of Bitcoin will have to recover $ 18,000 to have a chance to resume the bull run.
So, watch out for Bitcoin moves! Wait for another correction!
MicroStrategy loses $ 100 million in crypto! Will it run away?
After having invested $ 425 million in Bitcoin, the company saw $ 100 million erased from its earnings in the last 24 hours.
Losses? No, not yet. Recall that the company acquired the leading crypto in mid-September when Bitcoin was around $ 10,000 to $ 11,000. As a result, you still see significant earnings.
However, no one likes to see their earnings drop by $ 100,000. Now the question is, will you let this move scare you away? Something we must be very attentive to!
Crypto exchange Coinbase reports problems again
Just three days ago we reported in our Crypto Trend Summary Crypto that Coinbase had been disappointing its crypto users given the number of outages that had occurred during times of high volatility. Yesterday, again, the American crypto exchange was affected by interruptions in the cloud computing platform Amazon Web Services (AWS).
Obviously, this has been the last straw. Coinbase’s crypto customer community rates it as the worst and untrustworthy and if you wish, please come read all the responses the Coinbase Tweet has received.
Keep in mind that even though Amazon reported today that the issue had been resolved, it appears that Coinbase has not been restored.
In a few lines …
Mike Novogratz assured that everyone would have to invest in Bitcoin.
Scott Melker, until yesterday, continued to buy the leading crypto.
Prime Minister Mikhail Mishustin of Russia said the government plans to classify digital financial assets as property.
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Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.