Crypto: The Bitcoin rate has fallen sharply. But he retained a chance for continued growth


The Bitcoin rate has fallen sharply. But he retained a chance for continued growth

After updating the annual high of $ 13,859, the bitcoin price on the Binance exchange fell in less than a day to $ 12,888. The value of the asset fell by 7%, after which it returned to over 13,000 dollars a few minutes later. Since then, the cryptocurrency has gradually become more expensive. now its price is 13,300 dollars, at the end of the day the decline was 3%.

NewsBTC analyst Ayash Jindal explained in which case BTC rates may continue to fall. Now the asset is in a short-term bearish zone, as it broke the key support level of $ 13,500. Now the new key zone is $ 13,200, if interest rates fall below the risk of falling below $ 13,000. In this case, the next key zones will be $ 12,600 and $ 12,500.

To continue the upward movement, Bitcoin must overcome the $ 13,315 mark and key resistance to $ 13,375. The biggest obstacle for the bulls will be the $ 13,500 level, whose successful break will resume the rally and allow the cryptocurrency to return to the annual high. $ 13,859, Jindal explained.

In the future, the next two months, you can count on the consolidation of bitcoin quotes above the annual maximum, says the head of data analysis department for CEX.IO Yuri Mazur. In the event of a split of this brand, the prospects for further upward movement of BTC to the $ 16,220 area by the end of 2020 could be more than realistic.

"When bitcoin reaches the $ 13,949 – $ 14,000 price range, there will be a consolidation due to profits from traders and a set of new liquidity, after which the $ 14,000 mark will be attacked. The strength of the trend should support buyers and help get a foothold above this level, then it is possible to say that the level of 13 1349 dollars became a support for BTC and expects the continuation of the upward movement of Bitcoin.In this case, the milestone of $ 16,000 can be conquered already in December this year , Mazur predicted.

Coinspaid CEO Max Krupyshev agreed with him. He stressed that Bitcoin is in a clear bullish trend and will continue to rise for fear of a pandemic and due to the dynamics of integration with PayPal. But the expert warned that one should not expect any historic peaks and incredible heights this year.

"I think that by the end of the year Bitcoin will be able to take or at least test the level of 15,000 dollars. In November it will probably be a period of relative calm and in December a progressive growth will begin," Krupyshev suggested.

Earlier, it became known that the assets of the maker of analytical software MicroStrategy in bitcoin have risen in price by almost 100 million dollars in the last two months. In August and September, the company invested $ 425 million in reserve assets in the first cryptocurrency.

– "Bitcoin can skyrocket over $ 20,000." Experts assessed the outlook for BTC

– The head of Mastercard named the biggest problem with bitcoin

– JPMorgan cryptocurrency will be used for commercial purposes for the first time

You can find more news about cryptocurrencies in our telegram channel GFN-Crypto.