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Traders Continue Arguing about BTC Price

28 August 2020, 16:40
Votes: 2

Bitcoin price tendencies are the main topic for discussion in the majority of news on cryptocurrency. Investors and experts make assumptions on how this digital cash will behave in the future.

Traders Continue Arguing about BTC Price

According to many cryptocurrency researchers, the BTC price scenario may develop in two main directions. As its price is constantly changing, traders have controversies on two sums that seem the most possible for this virtual cash.

What two prices do traders expect?

Many experts think that bitcoin will have one of these scenarios: it will either grow to sixteen thousand dollars or drop to $9 600. They have reasonable explanations for these predictions. If the cryptocurrency’s weekly chart finishes with the price of more than $11 500, it indicates that BTC can reach the $16 000 rate. The CME gap may become the reason for BTC’s step back to a lower price.

However, it doesn’t mean that the crypto cash will definitely change under such conditions as traders suppose. Its price depends on lots of aspects, for example, the resistance level. The considerable decrease during the last three days makes it clear that bitcoin has a downward tendency. At the same time, it remains uncertain how the virtual currency will perform in the future.

Read more: Bitcoin price prediction 2020: the main trends

Read more: How are bitcoins defined and explained?

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