Cryptokoin.com - Blockchain expert Joseph Young expects this week to be interesting for Bitcoin and lists the factors that can affect the price. Industry pioneer Preston Pysh suggests that BTC will be traded down this week, revealing a few major drop factors.
Bitcoin specialist listed developments that will affect the price this week
Famous Bitcoin expert and columnist Joseph Young shared a few big factors that could affect the price of Bitcoin this week. Meanwhile, BuffettsBooks.com founder Preston Pysh and Blockware Mining CEO Matt D’Souza expect Bitcoin to fall below the $ 9,000 level due to the difficulty adjustment to take place today. These two crypto experts claim that the downfalls that might occur will be an excellent opportunity to buy bottoms in BTC.
Joseph Young counted a few key factors likely to drive Bitcoin down this week. As mentioned by other industry experts, one of these is the Bitcoin difficulty adjustment, which will increase by 16.25 percent in one day, according to the BTC.com website. Joseph Young says this difficulty setting is likely to be the biggest adjustment since January 2018. As the other decline factors, the famous name shows the rejection at the $ 10,500 resistance level, the strong $ 8,900 demand and a big bearish signal.
Industry pioneers Bitcoin expected to drop below $ 9,000
While sharing his views on the upcoming BTC difficulty adjustment and whether it will affect Bitcoin price, Blockware Mining's CEO, Matt D’Souza, says Bitcoin will see a lot of pressure in the next two weeks. Matt D’Souza expects the price to drop below $ 9,500.
The famous name also adds that the range of $ 9,000 to $ 7,600 BTC will offer excellent prices for savings. Preston Pysh, founder of BuffettsBooks.com, made similar statements with Matt D’Souza. Preston Pysh expects Bitcoin to drop below the $ 9,000 level due to the difficulty adjustment to take place today.