Oh No!! Bitcoin Price May Drop to $2,800 This Year
According to a graph posted by Bloomberg
the 50-day moving average is getting close to the 200 day moving average. If it goes below it, bitcoin will suffer a great loss.
Considering these trends and comparing these activities to BTC’s price in 2013, technical analyst Paul Day from Market Securities has claimed that the value will drop to $2,800.
2013 is often remembered as one of the worst crashes in BTC history. First, the price dropped from $233 to $67 in April, a 71% drop in 12 hours, then the price remained extremely volatile . It broke records on Nov. 30, 2013 with a value of $1,126, but declined by 19% within 24 hours, only to recover on Dec. 5, 2013 to $1,155. The price kept decreasing by 41% and increasing by 47%, before dropping to a surprising value of $503 on Dec.19, 2013. From an all time high of the first week of December, the price had declined by 56%.
The price drop was such that it took bitcoin over three years to finally cross the $1,000 barrier again.
Now a days value of bitcoin has seen significant losses over the last week, dropping to its lowest price since October 2017.
March saw bitcoin's price drop below $10,000, reaching a low of $6,500 before rebounding above $7,000.
We have seen that the world's most valuable cryptocurrency fall below $6,000 to an eight-month low.
3 Things Not to Do When Bitcoin is Going Down
1.Don’t try to catch the exact bottom
When you’re staring at a coins chart,wondering when it will stop. You’re trying to catch the bottom. It’s extremely difficult to catch the exact bottom on a trade. So difficult that it’s often called, “catching a falling knife”.
2.Don’t sell your coins for ones that are going up
It seems like everytime I abandon ship on a coin to FOMO into another one, the coin I sell goes up. FOMO stands for Fear of Missing Out, it’s a common fear that causes a lot of bad decisions in trading.
3.Don’t stare at the charts all day
Trust me, I’ve tried. When I first started trading I used to spend countless hours for seeing Charts. A lot of those hours were wasted. Sure, I spent a lot of time actually studying and applying what I learned to my trading, but I also spent a lot of time aimlessly staring at a computer screen for hours on end.
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upvote for me please? https://steemit.com/news/@bible.com/6h36cq
Upvote for upvote
nice great work buddy
keep supporting!!
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Still droping
upvoted you
i don't agree with your opinion. Bitcoin prices are still low, and blockchain technology is evolving and it will change every sector. So its better buy and hold the coins before the bull run.
upvote for me please? https://steemit.com/news/@bible.com/6h36cq
Bitcoin may drop by this year but it will again in future cross its all time highest value. Bitcoin has great potential.