October 09, 2019 at 10:27AM
No matter how much the market participants fear a new sideways trend in Bitcoin, we are now seeing signs of this forming. For about two weeks, the price of Bitcoin was almost the same as it is now. During the last day, the first cryptocurrency loses about a per cent and trades at $8,150. The flat trend may be rather bad news for the benchmark cryptocurrency. In this scenario, we get stabilization of the rate after the drop. It’s only a matter of time before investors get tired of seeing a consistent decline and again prefer to sell some of their crypto assets.
Even the current local lows are not an obstacle to making a profit as many current sellers had invested in Bitcoin when it was much cheaper.
While the crypto market practically does not generate good news now, the Telegram blockchain launch may get more attention. This team makes it clear that the project is almost ready. The general enthusiasm around the successful start of the long-awaited project may give a positive impulse for the whole crypto market.
The FxPro Analyst Team
From: The FxPro Analyst Team https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-stick-to-8000-level-for-9th-session-20191009/
Selected by fonecable.com
- NEWS: Coveney: Ireland would strongly back an extension if Brexit deal is rejected October 18, 2019 at 10:19AM
- Gold Price Nears Breakout as Trendlines Continue to Merge
- Pound after Brexit: where to go
- NEWS: Japanese government downgrades economic assessment for the month of October October 18, 2019 at 09:46AM
- NEWS: Cable back above 1.29 as pound pares earlier losses October 18, 2019 at 09:39AM
Top Posts & Pages
- NEWS: Singapore exports fall for the seventh month October 17, 2019 at 01:56AM
- NEWS: FX option expiries for Thursday October 17 at the 10am NY cut October 17, 2019 at 02:14AM
- NEWS: PBOC sets USD/ CNY reference rate for today at 7.0789 (vs. yesterday at 7.0746) October 17, 2019 at 02:15AM
- NEWS: More on the Australian jobs report and the drop in the unemployment rate October 17, 2019 at 01:40AM
- NEWS: Australian employment report: Unemployment rate 5.2% (expected 5.3%, prior 5.3%) October 17, 2019 at 01:30AM
- AUD/USD Breakout Higher in Focus as Australian Unemployment Drops
- NEWS: AUD higher on the unemployment rate drop in Australia, September jobs report October 17, 2019 at 01:36AM
- NEWS: Trade ideas thread - European session 17 October 2019 October 17, 2019 at 06:36AM
- NEWS: Ahead of the Australian jobs report due at the bottom of the hour - a look at the Asia FX session so far October 17, 2019 at 01:22AM
- NEWS: European pre-market: Aussie holds gains after slightly firmer jobs report October 17, 2019 at 06:09AM