Influential cryptanalyst Josh Rager gave the short-term Outlook on the dynamics of prices of bitcoin in his Twitter. Looking at the current situation of bitcoin, Rager said that the bitcoin sooner or later will be reduced to $6000.
Analysis Rager says that $7150 is a key area, which currently focuses most traded volume of the main cryptocurrency. However, according to Rager, bitcoin will still lose the current support levels will be reduced to $6000:
$BTC — as long as $7150 holds, this will be a key area because it’s the point of controls, the area with the most volume traded in this range
But let’s not kids ourselves, $6ks are coming again sooner or later
Prep your emotions, we’ll get through this like always pic.twitter.com/hfNeD3YZ8O
— Josh Rager 📈 (@Josh_Rager) December 2, 2019
«Bitcoin is still kept at $7150, and it will be a key level with the highest trading volume in this range. But let’s not fool ourselves, as the $6000 will come sooner or later, and I think we should save the emotions for it.»
The influence of bears
The price of bitcoin rose again above the resistance level of $7500, giving hope to enthusiasts. However, their eagerness did not last long, and the initiative again have intercepted bears.
In recent months the efforts of the bears are not in vain. When bitcoin was above $10,000, many experts believe that the asset will not be trading below this resistance level, while re-reaches the maximum – $13 900. However, these assumptions have not worked, and at the moment nobody knows when bitcoin will go parabolic in growth.
While some say that the bitcoin high of $13 900 in 2019 was associated with the future reduction in the compensation of miners; others argue that the effect of future events is still not proved.
According to the website CoinMarketCap at the time of this post the exchange rate of bitcoin was $7308 (-0,79%) with market capitalization of $198 billion.