Before You Buy, bitcoin - Read This 2018 Story First!
Thus, it is too early to claim that bitcoin users frustrated with high fees are moving to Bitcoin Cash. Then it needs to reverse through that uptrend or downtrend, and then it needs to turn that trend positive. Bitcoin, the worlds biggest digital currency, continues to lack direction, hovering around 7,500. Comparing the above chart to Bitcoin price, which likewise reversed 40 from around 6,000 USD, and the resemblance is striking.
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The harbinger was correct, albeit a short dry-spell in the first two months (similar to what were seeing right now). With the exception of 2014, which was affected by the downfall of now-defunct. Many analysts have predicted the price of bitcoin to plunge either after the cancellation or execution of SegWit2x, as B2X dividend expecting investors reallocate their funds from bitcoin to other cryptocurrencies.
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So, if you believe that price follows interest, and therefore, more buyers and greater volume, theres a good probability that Bitcoin could test new all-time highs in the next few months as some market analysts have predicted. Trading Volume Is Artificially Deflated, another bullish signal that doesnt show up on the technical charts is the flourishing over-the-counter market. Besides lower fees and strengthening fundamentals due to some promising upgrades (e.g. The rest of the trading volumes are composed of Bitcoin Cash-to-USD trades, not Bitcoin-to-Bitcoin Cash trades.
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Featured image from Shutterstock. Alan Silbert, senior vice president at Capital One Healthcare and founder of BitPremier, revealed that the traditional Wall Street Journal newspaper demonstrated the growth chart of gold and Bitcoin on its front page as interest and demand toward Bitcoin have been on the rise. Sluymer said bitcoins RSI has stalled and is moving sideways, so its moving out of oversold territory.
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And its right at that point where its challenging its downtrend. Will Bitcoin price see new highs in 2018? Bitcoins price has bottomed and will break out over the next few days. Images courtesy of Shutterstock, Google Trends bitcoin price, buy Bitcoin, google search google trends.