So a 20x target is not absurd. However a break below the 3 week low at 3650/3600 shows bears gaining more control and should trigger more stops sending prices towards 3500/34/00. While trade volume is not a good demand indicator, it does reflect activity. The next support area can be found near. Short-term price corrections are always possible, but the long-term outlook for blockchain enabled currencies is positive. Bitcoin has its dedicated advocates. FR Français, eS Espaol, iT Italiano, pL Polski.
Bitcoin long term outlook
Hoarding in turn discourages commercial use. Michael Novogratz of crypto merchant bank Galaxy Digital is the latest voice to come out of crypto hibernation and tell it as he sees. Patience should be exercise during the consolidation BSV/USD Medium-term Trend: Ranging Supply zones: 90, 100, 120 Demand zones: 50, 40, 30 bsvusd continues in a range-bound market in its medium-term outlook.
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The need for patience is essential for a breakout or breakdown in price before takin a position. He bases his outlook on the most powerfull technical analysis for bitcoin growing appeal of Bitcoin and other digital assets in an increasingly unstable geopolitical world. 3, facing very close resistance from the 21-period moving average. It is currently trading at 48, slightly above the 21-period moving average but below the 50-period MA and the Ichimoku cloud. At the same time, bitcoin trade volume has not increased with prices. At the same time i think that at the end of a strong buying climax period, if any, it will be wise to reduce your bitcoin investment if the price goes above 30k USD (price calculated using the equivalent.5 times the historical volatility. More than likely, youll still do very well even if you got in at 300.
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