Bitcoin (BTC) Crawls Back Above $8,000 As Weiss Ratings Claims The Recent Correction Offers The Best Buying Opportunity

2019-5-25 21:12

Bitcoin has been able to crawl its way back above $8,000 right before the start of the weekend. Over the week, there was scare that its correction was prolonging its welcome and this could have serious implications during the bounce back.

As Bitcoin regains momentum, Weiss Ratings has made a bold claim stating that this is the best time to buy Bitcoin. Juan Villaverde, one of the chief crypto analysts stated that this is the best buying opportunity since 2015. He also added that what the market is going through right now had happened back in 2012 and 2015.

Is History Going To Repeat Itself?

In his explanation of why this is the best buying opportunity, Juan Villaverde stated:

“In January 2012, for instance, after Bitcoin has rallied to $7 per token from its bottom of $2 just months earlier, Bitcoin suffered a 45% correction down to about $4. But that was a launching pad for a bull run that would take Bitcoin into four-digit territory for the first time in its history, hitting a high of almost $1,200 by December 2013.”

Despite this, it is important to note that when it comes to the market’s past performances or patterns, these are not the best indicators. The price movement experienced back then could have been triggered by a number of things that are at this time not in play. However, his optimistic outlook is right and several indicators continue to show that Bitcoin is strongly bullish.

One as such is the trade volume. At the time of press, this stands at just above $25 billion an impressive number that has been maintained over the course of the bullish move. This shows that the bullish momentum has serious backers and even in price corrections is able to hold its own.

Bitcoin (BTC) Price Update

At the time of press, Bitcoin has climbed above $8,000 although just barely, marked by an over 4% price surge. Altcoins have also turned green and are enjoying a moderate price rise of 2% to 7%. The total market cap has since climbed back above $250 billion.

The post Bitcoin (BTC) Crawls Back Above $8,000 As Weiss Ratings Claims The Recent Correction Offers The Best Buying Opportunity appeared first on ZyCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Cash & Back Coin (CNBC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 CNBC

back bitcoin correction ratings weiss above opportunity

back bitcoin → Результатов: 126


FinCEN back on the bitcoin beat with civil penalty for peer-to-peer trader

After first issuing cryptocurrency guidance back in 2013, enforcement by the Financial Crimes Enforcement Network (FinCEN) has been out of the headlines in recent years. Now the bureau of the US Department of the Treasury is back on the bitcoin beat and taking action — dishing out a hefty fine to a prolific bitcoin trader accused of wilfully violating the Bank Secrecy Act by failing to register as an exchange.

2019-4-25 16:00


Фото:

Ten Years after Lehman Brothers Sunk, Wall Street Comes Full Circle on the Back of Bitcoin

Ten years after Lehman Brothers filed for bankruptcy in 2008, a host of new financial offerings is hoping to entice sullied investors back into the market. The task hasn’t been easy, however. The financial crisis that spawned Bitcoin has left enough emotional damage to keep those with a keen sense of memory far from equities and traditional stocks.

2018-9-15 10:00


Bitcoin breaches $8000 USD. Bull run imminent?

Bitcoin, despite sell-offs over the weekend, has regained its value and has soared past the $8,000 USD mark today. Over the weekend, because of massive sell-offs in the market, Bitcoin lost 3% of its value over the course of Sunday, however since the beginning of this week, Bitcoin is back and after having gained almost The post Bitcoin breaches $8000 USD. Bull run imminent? appeared first on ItsBlockchain.

2018-7-24 12:12