RATE Group | Bitcoin Mayhem Results In Mixed Messages
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Bitcoin Mayhem Results In Mixed Messages

30 Sep Bitcoin Mayhem Results In Mixed Messages

Posted at 04:06h in Bitcoin News by

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Bitcoin and cryptocurrency market chaos this week has caused panic among traders and investors who have been nervously waiting for a sudden move for months.

The bitcoin price plummeted this week from its recent plateau of around $10,000 per bitcoin to under $8,000–losing some 15% of its value in a matter of hours.

Now, as bitcoin technical data looks bleak and bitcoin bulls advise traders to “buy bitcoin at every chance” they get, the market looks as confused as ever.

The GTI Global Strength Indicator, which measures upward and downward movements of successive bitcoin closing prices—shows bitcoin isn’t yet “oversold,” potentially pointing to further declines, it was first reported by Bloomberg, a financial newswire.

Meanwhile, the founder, chief executive, and chief investment officer of Morgan Creek Capital, a U.S. bitcoin and cryptocurrency investment company, told traders to…

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