Post
Topic
Board Speculation
Re: Bitcoin Drops $1,600 Amidst Global Uncertainty. What's next for BTC?
by
davis196
on 03/03/2020, 07:00:08 UTC
Bitcoin is at an important juncture, sitting on weekly support and the 20 week moving average and yet the global markets seem poised for more downside. Will Bitcoin drop further or recover from here?

Full market thoughts here: https://www.cryptoadvocate.net/post/bitcoin-crypto-market-update-01-04-2020

Three days ago,some analysts were talking about a V-shaped price crash,which means big and fast crash,followed by fast price recovery.I don't agree with that.The price movements will be more like W-shaped.After the initial price crash there will be a small recovery followed by another price correction.Anyway,this is just a hypothesis and I'm not a guru,expert or market "oracle" analyst.
Based on what I hear in the news,the coronavirus panic is  slowly decreasing and the global stock markets will recover,crypto markets will follow this trend as well.