RATE Group | Bitcoin Is Approaching the Optimal Buy Zone, According To Analyst
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Bitcoin Is Approaching the Optimal Buy Zone, According To Analyst

01 Nov Bitcoin Is Approaching the Optimal Buy Zone, According To Analyst

Posted at 03:02h in Bitcoin News by

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The sudden popularity regarding blockchain technology in China is exciting. However, these positive stories aren’t having the expected effect on Bitcoin’s price.

For example, the China Merchants Bank has recently announced that it has made an investment in the crypto wallet BitPie, arguably one of the most popular wallets used by Chinese investors. Even though the company operates out of Australia, it has deep roots in Beijing.

However, Bitcoin’s price may soon start heading upward. According to our analysis, BTC is likely to make a final downward move before resuming its uptrend.

Crypto trader @davthewave stated that according to a fractal which successfully predicted the December 2018 bottom, Bitcoin will continue decreasing for a “few more weeks.”

According to the chart, the Bitcoin price will make a bottom around $6500 by…

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