The analyst predicted the fate of bitcoin
The fate of bitcoin can unfold in two scenarios: either it will rebound, or the fall will reach zero. All this is being decided today, Dmitry Golubovsky, an analyst at the Golden Mint House, is convinced.
As of 14:00 Kyiv time, the cost of bitcoin fell by 8.21 percent per day, dropping below last year’s mark and amounted to $19,235. The minimum mark for the day was $18,703.10. This is evidenced by data from the Binance exchange. It is noted that its value fell below 20 thousand dollars for the first time since December 16, 2020.
“The future fate of bitcoin is being decided today. Because the level of 19 thousand dollars is a strong technical support in terms of technical analysis,” Golubovsky said.
The analyst is convinced that within the next couple of weeks it will be clear whether this is the end of the fall or not. He explained what indicators can be used to analyze cryptocurrency.
“Bitcoin has always rebounded from the 200-week average over a very long period of time. Usually it breaks through the level, after which it jumps up for several weeks, and this turns out to be the end of its fall, ”said Golubovsky.
Here you need to observe all these processes. But if there is no rebound in the coming weeks, then the fall will go to the 10 thousand area and further down.
Dmitry Golubovsky warned that other cryptocurrencies could join the fall of bitcoin.
“If bitcoin falls further down, then, in my opinion, this is a sign of the dying of the cryptocurrency market in the form in which it currently exists. Long-term trends break down, the logic of this market breaks down and panic begins. When even those who hold cryptocurrencies for a sufficiently long period of time may find themselves in a situation that they will be forced to close their positions,” the analyst concluded.
Earlier it became known that the cost of computer video cards around the world has significantly decreased due to the collapse of the cryptocurrency exchange rate.