This week Bitcoin seriously battered bears. Cryptocurrency has risen above $ 8,000, but some analysts still doubt the beginning of a bullish trend. According to them, asset, you need to gain a foothold in the new support level. It is reported by CNBC.
Investments in Bitcoin and caution
The founder of Advisor Newton mark Newton does not rule out the possibility of a new pullback.
Taking into account the fact that the downtrend has been very strong since may, I would advise you not to succumb to greed in advance. Even with the growth cycles of the asset still will not grow to record value in one day.
Newton adheres to expectant management. The analyst is advised to open long positions only when full confidence in the future growth of Bitcoin.
Meanwhile, experts of Fundstrat talking about a breakthrough 15-day moving average, this indicator can serve as a good resistance level for Bitcoin. However, minor setbacks down in the short term is not excluded.
Despite the global correction, analysts still expect Bitcoin for $ 25,000 by the end of 2018. Head of research at Fundstrat Tom Lee predicts the revival of the stock market in the next few months.
A month ago nobody doubted that Bitcoin may come down to $ 3,000. Now the situation has changed radically.
The next major resistance level is $ 10,000. Against the background of new positive news, that tag no longer seems so distant. We will remind, earlier the largest investment Fund BlackRock has announced the creation of a working group to enter the stock market. Hope you guys and the growth of the crypts.
SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. WAITING BITCOIN FOR A MILLION.