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BTC Does Not Look Weak – expert

4 November 2019, 11:09
Votes: 1

At the end of October, Bitcoin made a sudden upswing. It took less than a day for BTC to jump from 7,3 to 10,6 thousand dollars.

BTC Does Not Look Weak – expert

It turned out to be the 4th most significant daily increase in the history of the first cryptocurrency.

Nevertheless, certain analysts have been pessimistic regarding this situation. According to one expert in the trading sphere, BTC’s relatively strong upstream movement is a sign of a downward trend that is about to come soon.

However, not everyone shares the same opinion. According to a well-known trader SmokeyXBT, such bearish prejudices are to some extent groundless. He admitted that BTC still has to break above the weekly horizontal resistance, which is 9,6 thousand dollars, Smokey stated that the cryptocurrency has strongly reclaimed 9,111 dollars. This level has been crucial for Bitcoin since last May.

Such an optimistic opinion was also supported by The Crypto Dog.

As mentioned earlier, at the end of summer a large-scale BTC fraud was carried out with the help of a PlusToken crypto wallet.

Read more: Best Cryptocurrencies to Invest in 2019. The Most Promising Coins According to Experts

Read more: How BTC has Changed the Gambling World (Part 1)

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