Bitcoin can go below $1500 ????

in #bitcoin8 years ago (edited)

Shared from the website cryptocoinnews.com

Recently, Ramki Ramakrishnan, an international banker and treasury manager, who is also a contributor at Forbes, technically analyzed bitcoin’s recent fall with Elliott Waves.

Bitcoin’s Recent Correction

On Thursday, all the top 25 cryptocurrencies, including bitcoin, Ethereum, and Ripple, experienced a huge price fall. The average value drop exceeded ten percent in almost all cases. Both Ethereum’s and bitcoin’s market cap fell by billions of dollars, with BTC dropping to $37.4 billion and ETH to $28.9 billion.

However, one day later, on Friday, bitcoin recovered from $2,150 to $2,521, and is currently standing on $2,640 (as of Saturday 6:40 PM). Some people credited bitcoin’s tumble to Bitmain’s announcement saying that the network of bitcoin is at a high risk of being split. Although, analyst Nicola Duke predicted such a correction in May for both BTC and Ethereum. The analyst stated that bitcoin could experience a correction of 46.5 percent. Duke predicted that BTC’s price will go as low as $1,470, however, that drop did not happen (yet).

What do you think guys ???

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at some point prices will go that low and even lower, but probably not before it go much higher first. just my 2 cents.

I write about cryptos, gold and silver. Here is my latest: https://steemit.com/bitcoin/@hgmsilvergold/us-dollar-weakness-is-driving-higher-bitcoin-and-ethereum-prices

thanks for sharing your views !!! @hgmsilvergold
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