Bitcoin has been crazy over the last few weeks as the price of cryptocurrency has exploded, ranging from $ 7,300 to $ 10,600 before the momentum dissipates and BTC has slowed to its current level.
A prominent analyst now points out that Bitcoin’s inability to stabilize over $ 10,000 cannot amplify the history of the echo swamp that many analysts have been entertaining over the past two months.
Bitcoin finds ongoing support at $ 8,000
At the time of writing, Bitcoin is trading more than 2% at its current price of $ 8,190, lower than its daily low of $ 8,000, which is where the crypto crisis has been able to find continued support in recent days.
Over the last few days and weeks, bitcoin has been slowly declining, finding multiple levels of support before trading sideways, and eventually declining to find lower lower prices.
It is not yet clear whether this empty model will continue in the near future as BTC raises $ 8,000, but one analyst believes that cryptocurrency will soon have a major breakthrough.
Popular cryptocurrency analyst on Twitter HornHairs spoke on a recent tweet, explaining that BTC’s demand around the current price range, as well as several other factors, led him to believe that this price level is moderately lower.
Does the Bearish BTC Echo Bubble story turn out to be technical?
Popular hedge fund economist and manager Mark Doe recently tweeted about Bitcoin’s stock price, explaining that “really strong” assets did not recover immediately after the end of October movements. Its high prices of $ 10,000 can confirm the story of the exotic balloon.