Is the correction something that makes bears too cocky — they suddenly begin to say about the “death” of Bitcoin, which will certainly happen in the near future. Another expert was Paciorkowski Marek, an analyst at the Polish Forex platform Aforti Exchange S. A.
In one of his last interviews Paciorkowski said that the price of Bitcoin will eventually fall to hundreds of dollars. In this zone, the bitcoin was trading for five years, such a strong fall will extend the correction to the December high to 99.5%. This writes the CCN.
When the end correction Bitcoin
My point of view the analyst supports the research of technical indicators on the chart of the asset.
Taking into account the height of the triangle in which the price of Bitcoin goes from March this year, his hitting down will cause the fall of the asset to $ 100. It’s hard to believe, but in the financial markets everything is possible. Especially if Bitcoin once again will not be able to continue the global uptrend and a fall below 5,500 dollars.
Paciorkowski believes that bitcoin will not be able to get out of the correction stage in the near future.
Every pullback we’ve seen since February, was accompanied by low trading volumes and a decline of interest from buyers. Since the end of February/beginning of March, Bitcoin is in a downtrend and triangle. In recent months, also significantly decreased the volatility of the asset, leading to lateral movement.
However, the analyst does not rule out the possibility of the growth of Bitcoin. According to him, the penetration level of 7715 $ will be a reliable buy signal. At the same time, a fall below 5613 dollars can be seen as a “clear” signal to sell.
And finally, a few interesting statistics. According to the index of Bitcoin Obituariespublished on the website 99Bitcoins, Bitcoin is already recognized dead 312 times since the founding of the service. Words Paciorkowski is possible to recognize the 313 account “funeral” of cryptocurrency.
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