RATE Group | Bitcoin Price Likely Bottomed at $7,700 , Will Resume Uptrend: Indicators
65997
post-template-default,single,single-post,postid-65997,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Price Likely Bottomed at $7,700 , Will Resume Uptrend: Indicators

20 Oct Bitcoin Price Likely Bottomed at $7,700 , Will Resume Uptrend: Indicators

Posted at 22:46h in Bitcoin News by

[ad_1]

Since Bitcoin’s bulls were sidelined in late-June, cryptocurrency investors have been wondering at which point will the pain stop, at which point will BTC resume its uptrend to potentially new all-time highs.

For months, nobody had an answer. Bitcoin fell through $13,000, then $10,000, then $8,000 most recently. And still, some are calling for another 25% drop to $6,000, which is where a number of traders believe the cryptocurrency market will find an ultimate bottom before a multi-year bull market.

Related Reading: Crypto Tidbits: Fidelity Expands Bitcoin Ops, Ripple’s XRP Sales Fall, Grayscale Sees Growing Altcoin Demand

But, there is growing evidence suggesting that the leading cryptocurrency will soon reverse to the upside.

Bitcoin Indicators Imply Impending Bottom

Mohit Sorout, a partner at Bitazu Capital, noted that a number of Bitcoin indicators are reaching an inflection point, which he believes is where BTC’s price will finally bounce. “[The] Relative Strength Index,…

[ad_2]

Source link

Tags:
, , , , , ,