Friends, analysts fear the further and largest decline in Bitcoin. Can it reach the mark below 5000, what do you think?
Why expect a fall in Bitcoin prices? We need to expect its growth, then it will definitely be. The fall in the price of Bitcoin has indeed happened before, but since the beginning of April it began to grow quite well in price and has already grown by more than a thousand dollars. Now its price, according to CoinMarketCap, is 5339 dollars. In the meantime, this is very good. However, in any case, one should not expect a sharp rise in prices on the cryptocurrency market this year. His period of decline and stagnation after a sharp increase at the end of 2017 was too long. Many then lost their investments and now investors are extremely cautious.
BTC losing strength at the resistance 5300. Although there has been a lot of pressure during the last week on 5300, the price seems to not be backed by strong volume or accumulation. OBV currently showing very very low volumes.
This very possibly will result on a pull-back unless there is a new sudden pump for BTC and the whole crypto market.
Still too soon to take long positions. If you didn´t buy previously, patience might be the better option.