Bitcoin Trend 25-12-2017 / Bit Coin Calls For Bit Patience ! / What Behind Bitcoin Price Drop!
On 22 Dec I wrote :
Breaking 13000.00 and hold below it will push the price towards 11600.00, followed by 10800.00 level.
And 10800.00 level was tested..
On 23 Dec I wrote :
The recovery was expected but the gains are likely to be limited to 14500.00, as breaching this level and hold above it will push the price towards 15500.00 level.
And the recovery was limited to 14500.00 area..
On 24 Dec I wrote :
Will be more slides toward 12000.00 level. If the price move up, will be limited to 14700.00 level.
And 12000.00 level was tested..
The price now around 13300.00 and the stability below 13000.00 will be open the way towards 10700.00 areas, while surpassing 14600.00 will save bitcoin price from the negative pressure.
The big delays in transaction confirmation.
Because the value of the payment can be altered after confirmation, The reason why some of us, start to avoid bitcoin payments and shift to other cryptocurrencies.The sharp rise in transaction fees.
My P.O.V.
This is the main technical reasons that are fueling the current bearish wave. Because people who have been using bitcoin as a method of payment, are suffering from the current network status, and are mostly selling their bitcoins for other currencies that can be more suitable for their needs.
The trend still bearish and the price need to breach 14600.00 level and hold above it to cancel the bearish pressure. But I do not think, the price can not breach major resistance near 14600.00 level at this stage based on technical indicators.
Expected trading for today :
is between 10700.00 support and 14600.00 resistance.
Expected trend for today:
Bearish.
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Thanx for updating us about the bitcoin updates.
Great information about trending. I am new here,so I learn more and more things about Bitcoin market and Cryptocurrency. Your post is really very helpful to understand this. Thanks @lordoftruth for sharing this post.😊
No investments are immune to sudden downward trends. I look at bitcoins recent drop as a result of coinbase.com now making bitcoin cash easily accessible (coinbase is a popular platform). Given Bitcoin Cash's edge over bitcoin in the sense that it is more efficient, lower fees, and has higher block sizes, in addition to the easy access coinbase users (millions of people) now have to bitcoin cash, it only makes sense that Bitcoin fell as a result of Bitcoin Cash's recent success. Also markets correct themselves, crash, lose value, etc... It is the intelligent investors that invests on knowledge and extensive research that wins in the end. I will let you all decide on what cryptocurrencies are a good buy. But for know just know that Bitcoin is on Sale. BUY LOW and HODL. SELL HIGH. Merry Christmas and cheers to a new year filled with profits and success!
The concept for BTC has to be optimized, cause of the high fees and low transaction rates. Bitcoin Cash (BCH) was the result allowing about eight times more transactions per day. As a consequence the single transfer is faster and cheaper. More and more transactions are the death 💀 for BTC and there’s a lot consumption of energy! At now there’s a lot of trust in BTC and that’s the worth. In the future this trust will switch, may be to BCH, ETH ....
Agreed. The community must come together for updates to the Bitcoin System. No more hardforking. It splits the community.
I agree with you ! Time delay and fee are the main reasons !
Thanks for sharing my friend !!
Merry Christmas !🎄☃🌟🎁⛪🔔🕯🎅🎁
Oh yes, this correction was quite expected, as the whales produced another fixation of profits and began selling Bitcoin, after which they went on a Christmas vacation. Maybe another correction, after which these same whales will start the next rally up! Thank you @lordoftruth and keep us informed of what's happening!
I also think that bitcoin will grow!Merry Christmas!:)
Thanks for sharing about bitcoin. Bitcoin is my best coin but this time bitcoin market down ..Thanks for update news of bitcoin...Cary on my friend ...
Fantastic...
Very good question. We want to know the clue of bitcoin price drops. Follow and upvoted you. Thanks for sharing such a good post
Good information! Follow me to get price alerts.