Should You Trade Bitcoin Or Just Buy & Hold?
Traders are tired of bitcoin at $ 10 thousand.
Crypto community members are tired of waiting for BTC to grow
Investors continue to analyze the prospects for the movement of the bitcoin rate
Bitcoin Dominance and when to buy/sell Altcoins
International consortium of news organizations developing transparency standards.
Wednesday did not live up to the expectations of the crypto community, despite the fact that bitcoin (BTC) and most cryptocurrencies from the top 10 of the CoinMarketCap resource capitalization rating realized a slight increase. Coins are still far from local highs.
Recall that halving took place in May 2020, halving of bitcoin halves the number of new coins created and earned by miners. This happens about every four years and … More bitcoin. Many investors believe that the event should have a positive impact on the value of the cryptocurrency. However, despite expectations, the coin continues to stagnate near the level of $ 10 thousand. Against the background of the lack of positive movement, members of the crypto community began to ironically assume that BTC could forever remain at a busy height.
Ah, $ BTC is going to be at this $ 10,000 level forever.
– Michaël van de Poppe (@CryptoMichNL) September 9, 2020
Many noted that Bitcoin is behaving illogically.
“BTC, go home – you’re drunk”.
Go home, #Bitcoin, you’re drunk.
– The Wolf Of All Streets (@scottmelker) September 8, 2020
Blockstream Strategic Director Samson Moe, in turn, reminded investors of the high level of cryptocurrency volatility.
“There is a feeling that one fine day Bitcoin will jump to $ 20 thousand, and everyone will be shocked,” he wrote in his microblog..
I have this feeling that one of these days #Bitcoin will suddenly jump to $ 20k and everyone will be in shock.
– Samson Mow (@Excellion) September 8, 2020
Popular analyst Willie Wu decided to conduct a survey to find out what members of the crypto community are doing during periods when Bitcoin is getting cheaper. At the time of publication of the news, the majority of respondents voted for the item “buy at the bottom”. In second place is the answer “I already have enough BTC”.
Do you stacksats?
– Willy Woo (@woonomic) September 9, 2020
Meanwhile, the hashrate of bitcoin, according to a number of services, has updated its maximum value. Formerly a well-known billionaire in the crypto community, founder of Heisenberg Capital Max Kaiser suggested that the cryptocurrency rate should follow the indicator. He explained his point of view by the statistics of BTC behavior, according to which the coin often goes into positive movement during periods of renewal of the maximum hash rate..
URGENT!!! BITCOIN FAKE OUT!! BIG MONEY is ABOUT to SEND BTC to $250K!!!!!! [PROOF] 🚀
New hashrate ATH logged yesterday: 146.6 Eh / s
I expect 200 Eh / s this year. pic.twitter.com/cyLW4OLjIA
– hodlonaut (@hodlonaut) September 9, 2020
Against the background of the negative movement of coin rates, the popular analyst Peter Brandt presented his analysis of the bitcoin chart. BTC, in his opinion, is currently moving sideways. At the same time, the cryptocurrency rate, as he believes, when trying to grow, will collide with a resistance line (marked in black). If the negative dynamics continues, the digital asset risks rushing to another local minimum – near the $ 8600 level.
The analyst also analyzed the chart of the second cryptocurrency in terms of capitalization – Ethereum (ETH). The coin, according to Peter Brandt, completes the “triangle” figure, upon exiting which, according to the rules of technical analysis, its course will be able to choose the direction of movement. The local minimum, to which the coin will rush in the event of negative dynamics, Peter Brandt designated near the level of $ 250.
Flagging $ ETH $ BTC pic.twitter.com/ijJgMqVUj1
– Peter Brandt (@PeterLBrandt) September 8, 2020
Recall that at the moment the correlation between BTC and gold has reached a record level.
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