Not all forecasts were positive
Traders are divided
Market participants learn to see the positive aspects of falling cryptocurrency prices
International consortium of news organizations developing transparency standards.
The last day of the working week began for all cryptocurrencies participating in the top 10 of the CoinMarketCap resource capitalization rating with a fall.
As of 08:53 (Moscow time), the bitcoin (BTC) rate is at $ 10,316 per coin. During the day, the asset lost 8.93% of its value. The second largest cryptocurrency by capitalization – Ethereum – fell in price by 10.87% in 24 hours. The largest losses per day were incurred by Binance Coin (-16.89%), Chainlink (-16.67%) and Litecoin (-14.92%).
Against the background of the negative movement of the rates of popular cryptocurrencies, members of the crypto community presented their predictions for Bitcoin and other coins. A well-known trader who runs a Twitter blog under the nickname NebraskanGooner drew attention to the results of a technical analysis of the BTC chart. At the moment, in his opinion, the rate of the coin has formed a “bullish flag” pattern. According to the technical analysis, at the time of its completion, the asset may go up.
Litecoin Price Prediction!!!!!!! – LTC Litecoin 2021 – LTC Price News – Lite Coin Technical Analysis
“For me, this is a good signal to look for an entry point into long positions [long-term investment in bitcoin],” he wrote in his microblog..
Price dropped back to major weekly support and weekly OBV is in a bull flag formation.
That’s a good sign for me to look for swing long entries for a bullish continuation. pic.twitter.com/69jKD2NJJO
– NebraskanGooner (@nebraskangooner) September 3, 2020
Another popular member of the crypto community, one of the authors of Forbes columns David Gokshtein, in turn, drew the attention of microblog readers to the correctness of his forecast of August 30, 2020. On this day, he shared with network users the expectations of Bitcoin’s fall.
“Do not be too enthusiastic about bitcoin – its rate will still roll back to $ 10,400, $ 9,600, and then we will already fly [meaning the release of cryptocurrency in growth]”, he wrote on his Twitter on August 30, 2020.
Given the activity of the current fall, David Gokshtein suggested that Bitcoin could fall even lower. As a minimum, he named the $ 8,100 level.
This is what I said. Y’all laughed.
This is the happy outcome.
It could hit $ 8,100, but I don’t have enough data on it. #cryptomamba https://t.co/Fs6lYonS2i
– David Gokhshtein (@davidgokhshtein) September 3, 2020
Many traders agreed with his opinion. According to one version, the coin will be able to complete the fall near the $ 9,600 mark.
Technical breakdown on $ BTC
Early dip buyers will know pain pic.twitter.com/mKxXXOKdG6
– Mohit Sorout (@singhsoro) September 3, 2020
Samson Moe, Director of Strategic Affairs of Blockstream, in turn, drew attention to the fact that many investors did not react to the fall of Bitcoin. In his opinion, the BTC price decrease is a good opportunity to buy additional coins. According to this logic, it is good for investors, both when the cryptocurrency rises in price (the opportunity to make money), and when it gets cheaper (the opportunity to buy at low prices).
Or as @CryptoCobain calls it, Nirvana.
– Samson Mow (@Excellion) September 4, 2020
Many participants in the digital asset market focused on the prospects for a rebound in the bitcoin rate. Blogger The Crypto Dog, popular in the crypto community, drew attention to the fact that in the event of a breakthrough of many support levels, the coin will face difficulties.
God save us all if this can’t bounce here
– The Crypto Dog (@TheCryptoDog) September 4, 2020
Also, investors have not forgotten about Ethereum. One of the members of the crypto community organized a survey, the topic of which was the prospects for buying cryptocurrency at the current price. At the time of writing, most of the voting participants believe that the current decline in the value of the coin is a reason for investment.
HUGE BITCOIN MOVE IMMINENT!!!! TOP 5 ALTS YOU MUST OWN RIGHT NOW IN BULL MARKET!!!! [exact trades..]
eth is at 383 now
– CryptoGainz (@ CryptoGainz1) September 3, 2020
While members of the crypto community are making predictions of the further movement of coin prices, the number of calls to the Ethereum contract has updated its historical maximum.
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