Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Fundamental Analysis
Analysts divided over bitcoin
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="FIBO_Group, post: 143725, member: 38180"] Bitcoin, the world’s most popular crypto currency has certainly taken investors for a ride since the start of the year, falling from around $15,000 since the beginning of January to $6,000 in the space of 6 weeks only to bounce back above the $10,000 dollar mark in today’s trading. This certainly is the volatility a trader dreams of, with opportunities abound in long or short positions, so the question in which direction will it travel now? It seems at the moment analysts are pretty divided about where bitcoin will end up in the nearest future but one thing is for sure, with such volatility and especially the sudden drop in price of around $9,000, one has to be quietly cautious about placing any positions. Craig Erlam, a senior market analyst at Oanda notes that investors indeed should be wary because the chances of another sharp decline definitely remain. “Bitcoin continues to be a volatile as ever, having almost double in price in two weeks since bottoming around $6,000 on 6 February,” he said “It now finds itself testing $10,000 from above, a level that is providing some support in the near term. Sentiment remains extremely fragile in cryptocurrencies and I’m not convinced it’s yet recovered from what was a nasty selloff around the turn of the year.” he added. Some say that the current level of $10,000 may be here to stay in the short term as investors who got in within the last few weeks exit their trades and book in profits but that will eventually end and a new wave of long positions will see bitcoin move significantly higher. “$10,000 is a plateau for Bitcoin only as long as profit-taking continues,” says Trevor Gerszt, from Coin IRA “Investors who bought the dip nearly doubled their money when Bitcoin got close to $12,000, so a little bit of retrenchment was not unexpected. Once that’s over, we expect Bitcoin to continue its long-term price appreciation.” He added. [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…