Post
Topic
Board Speculation
Re: What will happen next if the resistance breaks?
by
ShowOff
on 10/10/2020, 12:17:04 UTC
-snip-
The Trump tweet and his Covid positive news that causes negative effect on Bitcoin price seems didn't stayed long, and Btc is back on track at $11,000.
I don't think that negative news about covid-19 can affect bitcoin price in the long run. Some time ago I also thought bitcoin would undergo a major correction just because Trump was infected, but in fact the price of bitcoin has broken its nearest resistance and hit $11K plus.

I think the negative issues that have been spreading about Covid will only have a negative impact on stock prices and the world economy in general. But bitcoin looks pretty strong against the wave of panic among stock investors and they were also interested in bitcoin after the stock fell. Bitcoin has become a good option to consider for investors if they don't trust the less profitable stocks enough during the pandemic.