Bitcoin price analysis

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Bitcoin price analysis
  • According to Cryptopotato bitcoin used to be unstable currency. Therefore, it is hard to preliminary determine price pattern for bitcoin. However, markdown to $3687 indicates time for possible bearish* market if downward price trend will remain. Based on current data Total Market Cap of bitcoin depicted $127 Billion, while BTC Dominance is 52.4%.
  • Considering previous price tendency for bitcoin, as it made hard to be around $3850, also fact that **RSI indicator slightly declined, keeping it fixed becomes crucial for bitcoin in order to maintain price above $3700.
  • An article mentions that sales volume of bitcoin started increase during last few hours, changed daily declining trend of past week.

Based on the article, an active buyout of bitcoin is expected from experienced investors in order to make profit from increased price in the future. If you decide to follow experienced traders, you can use platform, easiest way to buy or sell your preferred cryptocurrencies. Additionally, offers more helpful function, Automatic buy/sell, that will help you save the time and after indicating your desired price beforehand perform the order automatically.

*Bears – Traders who actively sell the currency when price falls, thus pushing price down.

Bullls – Traders who starting buying cryptocurrency when price is above a certain threshold level, as a result there is further increase in price.

**RSI (Relative Strength Index) – measures magnitude of recent price changes to estimate overbought or oversold.

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