Popular Bitcoin Cities in the World Bitcoin Suffers Price Decline as Bearish Trend Takes the Upper Hand Litecoin Price Analysis: LTC/USD Tumbles, More Losses Likely Bitcoin (BTC) Price Analysis: Where Bulls Are Waiting NANO Price Fall: Beleaguered Coin Dips Below $2 Veteran digital analyst, Willy Woo, correctly predicted back in late May, that Bitcoin (BTC) would test levels below $6,000 before any signs of recovery would be seen in the markets. Back then, he did not see BTC holding the $7,000 price level and had this to say: I think we are gonna go to $5500-5700 next, I can’t see $7000 holding.
Most likely we’ll balance a bit, then we’ll slide through. Long time-frames here, looking into June for rough timing of this to play out at a best guess.
Woo would also add that BTC was less likely to drop below $5,000 during that time period. I don’t necessarily think we’ll fall through the 5000s sure it’s a possibility but it doesn’t have to.
It’s not a repeat, it’s not Mt Gox and Willybot pushing up price with faked orders, we aren’t detoxing from a scam bubble. Technically $5000s is a very strong support band Sure enough, BTC fell to its lowest value this year on June 29th when it was valued at approximately $5,800 – $5,900.
Three weeks later, BTC has been soaring at levels above $8,000 since last Tuesday, July 24th. However, these values have been short lived for BTC has dropped to the current value of $7,615 in a period of just 2 days. Read more from ethereumworldnews.com…
thumbnail courtesy of ethereumworldnews.com