After March 2019, Bitcoin showed a bullish trend and goes up to $12000, it's
moving towards its low, now its at $8400. From here some analyst says it will fall more. Whereas some predict it will go towards high after this fall. So below are the opinion what the analyst says about the situation.
Tom Lee Co-Founder of Fundstrat Global Advisors said that “Cryptocurrencies are network value assets, meaning the more people hold the asset, the greater the value. In fact, it’s a log function — so if you double the users hold it, you get a quadrupling of value. To go to $25,000 you essentially need a little less than 4x rise, which means you need to double the number of people who hold Bitcoin.”
NebraskanGooner Founder of LevelInvest & CryptoCurrently says
"According to this fractal:
-
Dip to $8,250 area.
-
Bounce to $8,600 area.
-
Dip to $6,700 area.
I'm not trading based off this fractal but it's been following along almost exactly since I started watching it in September."
Josh Rager Co-Founder of Blockroots.com Said about the price
"Bounce off of $8,370s, this area acted as resistance for during the previous range (outside the fake-out pump in early Oct)
This area needs to hold, a weekly close below $8,235, imo, would lead to more downside
Currently, every time frame under monthly looks ugly"
