If you can suggest any encryption to traders and fans earlier this year, bitcoin (Bitcoin, BTC) to the current $3700, he or she may declare you crazy. However, the fact remains that we are in a position today, due to the following factors.
Before Thanksgiving, there is a view that all encryption is optimistic, the discounted value will result in a rebound in currency, bitcoin exchange rate will exceed $4700. The theory is based on the fact that has ended in a hash of war. There is a $3000 support level.
The signal / NVT ratio analysis of the future of bitcoin and bitcoin digital using senior analyst Willy Woo. Co founded by Dmitry Kalichki and Woo NVT ratio, the network is divided by the blockchain valuation transaction value by using the moving average smoothing, then. In October 26th a twitter, Wu (Willy Woo) to use this ratio to conclude that we are in the midst of a bear market. And this means that, before announcing the bottom, we experienced a few months bitcoin fell. The exact date at the bottom of the do not know, in 2019 years 4 months to 5 months for a period of time.
Many of the personnel do not know is that the bitcoin cash War (Bitcoin Cash Hash Wars) by storm, bitcoin from a couple of weeks ago to the current $3700 $6300. This event actually accelerated the bear market may be the end of the process, and had forecast the bear market will end in mid 2019.
One reason for this weekend is the bitcoin devaluation. Thanksgiving is used as a symbol of consumption during the festival began. After Thanksgiving, people in black Friday and Monday network come up with the money to buy discounted goods. And the upcoming Christmas and new year period, consumption and travel is normal. Therefore, the weekend low volume will be not at all surprising. Traders may simply cash, resulting in bitcoin fell.
Because many traders password or surrender or continue to hold the next few weeks to determine the code market the next step will be crucial. Note that the CME bitcoin futures on Friday (November 30th) due. Normally, when the contract expires, the BTC value will drop several percentage points. However, some might argue that the BTC decline is too large, so that the expiring futures cannot have a greater impact on its value.
Translation: Kunming plus