Despite the recent recovery of almost $1,000, the price of Bitcoin is still following a clear downward trend.This opinion was expressed by the well-known tech analyst Joe Rager.
According to him, the downtrend is especially good when changing the scale of the chart.
</p>Like many other analysts, Ranger notesarea $ 7950-8000, which must be overcome for a potential reversal. On the other hand, a fall in prices below the previous local minimum (~ $ 6400) will open the door to the level of $ 5300, where significant volumes of purchase are concentrated.
Another equally well-known analyst, Peter Brandt, notes that the first cryptocurrency was held above an important level of support.
</p>At first glance, the dynamics are not at all impressive.However, since the beginning of the year, digital gold has grown by 90%, significantly outpacing the Nasdaq and S&P 500 indices, oil, gold and other traditional assets.
</p>Some altcoins showed even more impressive dynamics:
Recall that earlier ForkLog published a review of bitcoin price forecasts from well-known market experts.