The rate of Bitcoin will drop to $5,000 within six months, says analyst portal Cointelegraph Benjamin Pirus. He noted that at this level is the support line, marked 200-week moving average. She successfully prevented the decrease in value of an asset in 2018 and early 2019. RBC Crypto.
The analyst added that in the near future is expected to decline for the first cryptocurrency to $6500. In his opinion, if the Bitcoin exchange rate drops below this level, it will continue to fall to $6,000.
As reasons for the decline in value of the main digital asset Pirus cited the low trading volumes and the weakness of the buyers. The expert also suggested that the rate of coins affect the crooks from the project PlusToken. They sell the stolen cryptocurrency, which prevents the Bitcoin price increase, said the analyst.
Another analyst Nebraskan Gooner also expects a decline in Bitcoin value. Previously, he compared the two sections of the chart of the asset over different periods, assuming that the change in its price can be predicted by its previous fluctuations.
Today, the expert has published another chart proving that his theory still works. If it is correct, the price of the coin will rise to $7500 for two days and then will fall to $6200 to 10 December this year.
Price action still following this fractal ever so closely…
If today’s candle closes above $7300 I think we will see price reach somewhere around $7500 tomorrow.
And then… 😖 pic.twitter.com/tGTUnSuMiT
— NebraskanGooner📈 (@nebraskangooner) December 2, 2019
Yesterday, December 2, two more analyst promised the depreciation of Bitcoin. According to trader Crypto Einstein, the coin will drop to $5500 in a month, and The Moon added that the slump will be enhanced by the availability of numerous open long positions.