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Re: Bitcoin's Next Major Move - Crypto Market Analysis
by
cryptomaniac_xxx
on 11/07/2020, 15:02:24 UTC
There is no real indication that the price will shoot to 10k any time soon. The graphs are not showing it, the volume is not showing it. If anything, the price will only come crashing below 9k.  It did already going far as 8.8k. Talking of a long term, yes we can witness that upward movement. But for now, I think it's going to hover around 9.3k and below
Volume is one good indicator if the price will increase, and so far, it is really weakening and it looks like to me that someone is manipulating the price an pulling it to just the $9200 range. I have a feeling that we won't see any significant break out due to this. Long term though, $10K is doable. The market is reacting to the world economics as well - the covid-19 is still around so there is no money to get and investors will likely hold their fiat than to invest.