Bitcoin (Bitcoin) fell below $5000 to achieve

In July this year, Hongkong famous bitcoin (BitMEX) CEO Arthur Hayes (Arthur Hayes) beyond all expectations forecast bitcoin (Bitcoin, BTC) has dropped to $5800 at the bottom of the main market, although analysts did not have this identity password. At that time, Citibank (Citibank) and Deutsche Bank (Deutsche Bank) of the former traders and analysts Hayes (Hayes) said, “I don’t think we have seen the worst case”, then BTC may test the $5000 in the real bottom before. Today, after starting Wednesday morning nearly a week after the turmoil of the price fluctuations, bitcoin fell below $5000 for the first time in 2018.

In the promotion of selling pressure, BTC shares fell below $5000, many traders to be startled at. After selling the first Wednesday, many people expect BTC will hold the stock at $5600, and find their own home. As you may have realized that the sell-off caused more than $20 billion loss in the encrypted currency market.

However, in BitMEX encryption (encryption market traders Abstract focus on the newsletter) the latest issue of the article, Hayes and BitMEX of the internal team of analysts call, due to some historical trends, bitcoin prices to reduce. Interestingly, this phone with Hayes’s original $50 thousand at the end of a far cry from the phone. According to Ethereum World News previously reported, Hayes first to YAHOO Finance said, bitcoin market is likely to continue until 2019, and quoted him in five years of experience in this emerging market trading bitcoin currency and copycat. In a few days later, the BitMEX executive crypto on the next round of the bull market will continue for several months or even years skeptical.

Hayes quoted the in-depth analysis of bitcoin historical performance of BitMEX research, pointed out that the downward trend in the bitcoin market at present (allegedly from March 12th, is likely to continue for at least 200 days. In addition, it also suggests that the encryption currency may fall further, because BTC announced the “peak to trough” (PTT) decline is only 67%, while the digital asset history of the decline of 87% and 94%. When it comes to volatility, Hayes explained, “to bitcoin volatility”, to regain the mainstream media “circus freak” status. He added that the bitcoin price volatility is the expression of the health of the industry, and mature “the best and most transparent way”.

Translation: Kunming plus

Source: ethereumworldnews

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