Now the main digital coin is in the same position as in May 2018, when its value began fall from $ 9,500 to $ 3,200.
There is a risk that the Bitcoin rate will drop to $ 2700,Pointelegraph portal analyst Keith Waring suggested. According to him, the RSI indicator, showing the overboughtness of the first cryptocurrency on the weekly chart, repeats the May 2018 pattern, after which it fell in price from $ 9,500 to $ 3,200.
If the story repeats itself, a drop in the value of a coinwill last about 5 months and end in May 2020, at the same time as halving, Weiring noted. He added that the exponential increase in the price of Bitcoin has always occurred after a decrease in the remuneration for mining, and not before it.
Bitcoinnews portal analyst suggestedshort term scenario. The price of the first cryptocurrency is clamped in a wedge, the upper border of which is located in the range of $ 7400-7500, the expert is sure. He believes that overcoming this level will be the beginning of the asset growth phase.
The likelihood of a Bitcoin price drop to $ 5,500 is alsoexists, the analyst noted. In his opinion, this will happen if the rate of the coin during the week goes beyond the lower border of the wedge, which is at around $ 7250.
December 5, Bloomberg analyst Mike McGlone saidthat raising Bitcoin to $ 10,000 remains a matter of time. According to the expert, there are a number of factors that speak in favor of the growth of the coin rate. The venture capitalist Tim Draper agreed with him, who is confident that the first cryptocurrency will rise in price to $ 250,000 by 2023.
At the moment, the average market rate of Bitcoin is $ 7514, in 24 hours it has grown by 0.03%. The daily trading volume increased by 1.2% and reached $ 15.4 billion.