Is The Bitcoin Price Finally Reaching Its Bottom?

[RianDrops]

A recent report claims it might be.

Per an article today in by Omkar Godbole in Coindesk, Bitcoin may finally be reaching the bottom of its bear run.

To cryptocurrency enthusiasts, this might come as a welcome hypothesis—with Bitcoin hitting a 50-day low today at $6,630 USD—though Godbole indicates that it's probably going to get worse before it gets better, speculating that BTC will fall in the $6,600-$6,000 range over the weekend.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

The evidence from market analysis? According to Godbole:


BTC tends to reverse course every time the relative strength index (RSI) drops to or below 30.00, according to historical data.... As of writing, the relative strength index is close to that mark, at 32.00.

Disclosure: I own some Bitcoin.

This report also follows a recent tweet from Digital Currency Group Founder Barry Silbert, in which he indicated that part of the renewed bear cycle stems from a sell-off related to tax season.

source: https://www.forbes.com/sites/jessedamiani/2018/03/30/is-the-bitcoin-price-finally-reaching-its-bottom/#2a92494c43c1

[jekjekey]

Di payan paps kasi si bitcoin ngayon is gaining parin ng popularity so may posibilidad na tataas ito ulit.

[RianDrops]

Di payan paps kasi si bitcoin ngayon is gaining parin ng popularity so may posibilidad na tataas ito ulit.

oo nga ehh yan din tingin ko. Babawi rin si BTC at lahat ng altcoins. Hintay lang tayu. 😊

[jayson1993]

Oo mas mamahal pa yang mga crypto pag nakilala na sa boung mundo kya tiwala lang 🙏

[RianDrops]

You're right paps. Kaya wag tayung mawalan ng pag asa. There is hope!