Analyst Who Called $3,200 BTC/USD Bottom Says Bitcoin Won’t Drop to $1,800: BTC Trumps US Dollar & Euro
Bitcoin price is yet again in the red slowly making its way downwards but still remaining strong above $5k. At the time of writing, Bitcoin has been trading at $5,075 with 24-hours loss of 1.69 percent, as per Coinmarketcap data.
BTC USD chart, Source: TradingView
The Trend Is Your Friend
According to the crypto trader Credible Crypto, we would be moving downward at least to the $4,925 region and could further drop down to $4,783 (the yellow zone) before we make a big move up.
“Expecting a big move up after this move down completes but not sure when it will complete. I am confident we clear the lows at $4925 and then ideally would be great to see a move to the YELLOW box. May bid that zone.”
Meanwhile, market trader and analyst, Benjamin Blunts who called out bitcoin bottom at exact $3.2k say $1.8k won’t be happening now as the fact is the trend is your friend and currently the market is painting a bullish picture.
“Keepin it simple, the trend is your friend. This is what i would show any permabear still calling for 1.8k. All the major moving averages have been well and truly cleared with crosses already beginning to start.”
Bitcoin Beats US Dollar & Euro
Meanwhile, the leading cryptocurrency is beating the traditional fiat money US Dollar and Euro when it comes to Wikipedia page reviews in 2018.
According to the stats shared by Michiel Lescrauwaet, co-founder of Adamant Capital in 2018 while Bitcoin amounted to 53 percent share, US Dollar got 47 percent share. When it comes to the Euro, it only got 16 percent while Bitcoin accounts for 84 percent share. However, given the fact that Bitcoin is only a decade old while US Dollar and Europe are much older, people might not be looking up in Wikipedia.
“Despite the bear market, still more people learned about Bitcoin versus the US dollar or the Euro last year. People are learning about money through Bitcoin rather than fiat currencies,”