What will happen to the Bitcoin rate – forecasts of experts and analysts

The Bitcoin (BTC) rate is experiencing another decline this morning.Publications Leading Cryptocurrency Tradedbelow the level of $ 6,600, thus losing $ 600 in about 24 hours, or about 9% of the cost. Over the week, the decline was more than 22%.

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Analysts continue to monitor what is happening, trying to predict further market movements:

Josh Rager:

"Funding is still in the black, so the outlook is not too bearish at the moment.The only question is whether it will climb back to the top of the $7,000 to $8,000 range before or after the next drop."

Scott Melker:

"Potential bullish divergence from oversoldRSI at each time interval is shorter than 12 hours. The minimum is probably close. I wanted to see it on the daily chart, completely satisfied with what I see. No confirmation so far. ”

Col Garner:

“The intersection, forming around $ 6,400, hasthe highest probability of becoming a minimum. Minimum logarithmic channel. Break-even point of mining, according to @filbfilb estimates. I don’t think that the weekly candle will close below this level. ”

Mr. Anderson:

“The first rule of catching the bottom: do not try to catch the bottom. The second rule (if you can’t help yourself): wait for a higher low (this does not mean reaching the bottom, but any bottom will have a higher minimum). The third rule: wait for the stabilization of moving averages, preferably over longer time periods. ”

The Crypto Dog:

“BTC fell another 15%. I traded a little this week, but I think it's time to think about opening longs again. Support fell to $ 6,200. I think we will soon see a good squiz. "

Tone Weiss:

“Six months ago at Consensus2019, I and RanNeuner argued that Bitcoin would return to $ 4,500. The price of Bitcoin was about the same, but then it was growing, but now it is falling. I’m as sure of my forecast now as I was sure of it then! ”

Crypto Rand:

“It feels like it's mid-2017 againof the year. Everyone is panicking due to the fall of Bitcoin. China here and there prohibits something. The media talk about the death of bitcoin. But we all know how that year ended. ”

Alex Kruger:

“Remember how the Fed’s“ printing of money ”was supposed topush the price of bitcoin higher? Quantitative mitigation is rocket fuel! Fantastic plot. Bitcoin has fallen 30% since the Fed began expanding its balance sheets in August. Additional liquidity can only help the price, but bitcoin does not respond to macroeconomic variables. This is such a low-liquid and fragmented market that, in the absence of a massive influx of new customers, the direction is determined by the actions of several players. The only concepts that still retain their relevance are halving and a model for the ratio of issued coins to newly entering the market (S2F). ”