Bitcoin Analyst Tone Vays Talks $7,000 BTC/USD and the Price Rise from $4K to $14K Value
Check out the latest update video from prominent Bitcoin community contributor and trading analyst Tone Vays.
He talks about the possibility of $7,000 BTC/USD exchange rate risk on top of what was the main drivers behind the $4,000 to $14,000 rise since April 2019 to now. He does reference the $9,600 resistance level as a key support area to see if we would dip back that low as the price of bitcoin currently sits at $10,137 with a market dominance of 69%.
He believes much of it is due to altcoin outflow back into Bitcoin and some institutional investor interest mixed in.
A quick look at other traders who have a bearish outlook for bitcoin's momentum:
Sorry for another bearish #bitcoin post. $BTC risk is high. We have only been in this position 3 times before. Each coincided with a crash. There is no guarantee the past will repeat. However, a 15-40% drop should surprise no one. pic.twitter.com/NgBrVNxpBj
— Timothy Peterson (@nsquaredcrypto) August 21, 2019
After all the shitcoin carnage, alts may be heading into a region of support. Top line is Alt Cap to BTC Cap Ratio (an alternative view to dominance). Bottom line is the ratio of Alt market volume to BTC volume at the exchanges. pic.twitter.com/CedGUHMhjo
— Willy Woo (@woonomic) August 21, 2019
Latest Bitcoin Price Updates and Industry News
Bitcoin’s price is $61,043.47 BTC/USD exchange rate today. The real-time BTC market cap of $1.15 Trillion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $16.56 Billion and live coin value change of BTC -0.07 in the last 24 hours.