RATE Group | Bitcoin Should Now ‘Behave Badly’ Says Analyst as IMF Warns of Crisis
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Bitcoin Should Now ‘Behave Badly’ Says Analyst as IMF Warns of Crisis

11 Mar Bitcoin Should Now ‘Behave Badly’ Says Analyst as IMF Warns of Crisis

Posted at 16:21h in Bitcoin News by

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Bitcoin (BTC) continued choppy trading behavior on March 11 as analysts revealed that the “black swan” state of the markets could produce fresh losses.

Cryptocurrency market daily overview. Source: Coin360

Cryptocurrency market daily overview. Source: Coin360

Filfilb expects “bad behavior” from BTC

Data from Coin360 and Cointelegraph Markets painted a precarious picture of BTC/USD strength on Wednesday. $7,750 support had remained since Monday, but resistance at $8,000 was once again keeping gains firmly in check.

At press time, Bitcoin circled $7,800, but there was little confidence that even those levels would endure for long.

Bitcoin 1-day price chart. Source: Coin360

Bitcoin 1-day price chart. Source: Coin360

Against a backdrop of continued fragility on traditional markets and the prospect of coronavirus spreading more widely in Europe, Cointelegraph Markets analyst filbfilb set the tone.

“Bitcoin has never had to deal with anything like this, it is a truly global reaching issue,” he told followers of his Telegram trading channel.

“We should expect Bitcoin to behave…

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