The next level of the bottom of Bitcoin was probably the most discussed topic of conversation until the end of 2018. After growth of the cryptocurrency the mood among the analysts has changed, so now they went in search of the point of a new historical maximum. But not Winnie Lingam — Creator of the Civic recently stated that Bitcoin could still fall below $ 3,000.
Today, the coin trades at 7918 dollars. For the past day the price was down 1.14 percent, and the capitalization is fixed at around 140,5 billion dollars.
Will fall even lower
Lingam still don’t believe in Bitcoin’s recent rally, which began in the first days of April. The expert expects the fall of the cryptocurrency until at least $ 6,200. Somewhere at this level should begin the consolidation phase of the asset.
If you look at the bearish cycles of Bitcoin, you will see that drop to the bottom ends with a rise in cryptocurrencies at least twice. We dropped to us $ 3,100, so the line $ 6,200 may decide the fate of the bullish trend.
Bitcoin can easily overcome the mentioned level, however, the “bearish trend is not over yet”. There is a chance that a cryptocurrency will still fall below $ 3,000 in a time when most traders expect it the least.
There are two critical levels. First — 5700 dollars. This so-called bottom of the market until the autumn of last year. The second was 6200 dollars. It is the mark of double growth rates from the bottom of 3100 dollars.
Let’s hope the cryptocurrency will not follow the scenario of the CEO of a Civic. Although the historical background for this. The summer months have traditionally been considered weak for the growth of Bitcoin.
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