Willy Woo, a respected cryptocurrency and digital product analyst, shared his analysis of the cryptocurrency market and claimed that Bitcoin’s price could go below $ 6,000 in the short run.
Since mid-May, Bitcoin has failed to test the $10,000 level, while the crypto money market is constantly in decline and miserable. The vast majority of the coaches in the sector continued to fall as well as Bitcoin and Ethereum, while the correction in the lower coins was a bit tougher than Bitcoin.
Speaking on May 25, Woo said that while Bitcoin was waiting for the price to fall below 6 thousand dollars, it saw 5 thousand 500 and 5 thousand 700 dollars levels as two support . Earlier reports also indicated that key support levels for Bitcoin will be at these points.
According to Woo, Bitcoin went down to under $ 7,000 in the short vault; You will test 6,500 dollars and you will not be able to hold it here, which will start Bitcoin’s journey to under 6,000 dollars. At the same time, Woo said that the level below 6,000 would be below 5,500 dollars. A successful analyst commented on the subject as follows:
“We need to be able to give the current price in terms of Blockchain technology. Otherwise, prices continue to fall, at least in the short term. The volatility is still very high and I think we will experience some more decline. But after that, good days are near again. ”
Woo also said that while doing this analysis, he used an indicator called NVT Signal , which he developed . Woo, indicating that Bitcoin is not going to be under $ 5,000 at this stage, replied once again that he regarded $ 6,000 as a high probability.
Stating that there will not be any such correction period in 2018 due to the intense downtrend that has started since the end of 2017, Woo said that he did not participate in the 2014 rhetoric for 2018 crypto money . Woo, said:
“If we come up with the most probable estimates … It will gradually fall to $ 6,800; then we will head for 5,700 more serious and accelerating. We will continue to do so for a while. This prediction is not really a prediction made, it is an estimate of someone who has been trained and has proven himself. It should be taken into account. ”
Rise After 5 thousand 700
In October 2017, Bitcoin nearly doubled its value over the three months to $ 5,700. It means testing 5 thousand 700 dollar levels; It means that Bitcoin will return to where he started after 9 months.
However, of course, the crypto money markets are not the ones in October 2017. Many factors, such as prices, companies, stock exchanges, have changed over the past 9 months, and people are now more aware of it than Bitcoin.
With this and market underperformance, Woo and many other prominent analysts predict that Bitcoin prices will rise again. Analysts, however, seem to agree that a difficult period ahead of them will happen. Can Bitcoin really do the expected rally in the third quarter of 2018, as analysts predict? Tags: bitcoin price prediction 2018, bitcoin price prediction tracker, ethereum price prediction, bitcoin news, bitcoin market, altcoin prices, bitcoin cryptocurrency, cryptocoin price