This week was yet another roller-coaster free ride for all crypto holders with Bitcoin, rapidly fluctuating from $6500 to $5985 and holding at $6480 at the moment of writing. Let’s recap on what was going on during the previous seven days: – There was a dash of BTC selling FUD related to ASIC Manufacturer, Bitmain,
Arthur Hayes, head of BitMEX crypto-exchange, predicted this May that BTC will be worth $50,000. In a very recent interview with CNBC, he said that he does not give up on his initial forecast. In addition, the CEO noted that despite the unpleasant correction, the trade volume on BitMEX tripled since the beginning of 2018.
According to the platform alternative.me, the indicator of market sentiments called Fear & Greed Index illustrates the increasing anxiety among crypto investors (Extreme Fear Mode). Let’s break down what this means. What is FGI? Stock indices are usually the tools that demonstrate the current state of a market. They show its development, trends, ups and
BTC trend corresponds with a theory of a hypothetical diagram derived from Richard Wyckoff in the XX century, user of Reddit remarks. According to the post, BTC and Wyckoff charts (below) have many similar features and sometimes fully identical. Consequently, some cryptocurrency community members expect Bitcoin’s price will surge in near future – after reducing