RATE Group | Is Bitcoin’s Long-Term Price Uptrend Intact? Research Firm Says So
68863
post-template-default,single,single-post,postid-68863,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
 

Is Bitcoin’s Long-Term Price Uptrend Intact? Research Firm Says So

16 Nov Is Bitcoin’s Long-Term Price Uptrend Intact? Research Firm Says So

Posted at 22:52h in Bitcoin News by

[ad_1]

Bitcoin (BTC) hasn’t been doing all too hot over the past five months. Since June, the leading cryptocurrency has cratered by almost 50%, collapsing from a year-to-date high of $14,000 to $8,500, where it sits today. BTC fell as low as $7,300 just three weeks ago.

Related Reading: Crypto Tidbits: RBC May Embrace Bitcoin, China Bashes Cryptocurrency, Ethereum DeFi Booming

Sure, a 40% drawdown isn’t the end of the world. Though, considering that countless investors were calling for a bull run just months ago, this drop has harrowed many a trader. In fact, some have ventured to say that Bitcoin’s long-term uptrend, which brought it from the doldrums of irrelevancy (like sub-$1 irrelevancy) to $20,000 and down once again, is coming to a close. In other words, they say that BTC is peaking, and it’s all downhill from here.

Though, an excerpt from a report from a top markets research firm suggests that Bitcoin’s long-term uptrend “remains intact.”

David Martin, the CIO of…

[ad_2]

Source link

Tags:
, , , , , ,