Market data showed a series of conflicting signals, one analyst made a bold prediction: Bitcoin will soon see its biggest price crash in over a year. Such a bold assumption is sure to be controversial, but investors should also consider all possibilities.
Prediction from a technical analysis perspective
The Bear Flag appears on the 4-hour chart. The next target target will be around $ 2,400 if the Bear Flag support line breaks - The Moon
This prediction argues based on the four-hour price chart, which clearly denotes a bearish flag. It is worth noting that The Moon also successfully predicted the sale to take place on March 12.
As such, this prediction is completely opposite to that of Crypto Rand made in the previous post. It is difficult to know which data will give the most reliable prediction of the next market move. The fundamental indicators signal Bitcoin price continues to fluctuate in narrow margins in the short term, but will recover more strongly over the next few weeks.
See more: Tangle and IOTA - a threat to the unique position of Blockchain and Bitcoin?
Prediction from a fundamental analysis perspective
Using only data from the price chart will lead to many different conclusions, even contradictions. So, we also need to consider other factors. Currently, to emphasize the potential profitability of Bitcoin in the future, analysts have been using factors such as: Halving 2020, Blockchain activities more and more applications and attention. , or a concern in using Bitcoin as an asset shelter during crisis.
There are also a lot of primexbt trading experts who refer to the traditional paper currency inflation scenario in the context of trillions of dollars about to be printed for economic bailout - and when people find themselves getting poor. how, trust in Bitcoin will be stronger than ever.
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