Bitcoin fell yesterday for the fourth day in a row and reached a local bottom of 83,387 dollars. That decrease was a reflection of the price action on Wall Street, where the Dow Jones lost 700 points and the S&P 500 also fell with 112 points. In other words, the overall market for risk investments had a hard time.
Worrying about inflation increases
The sales wave in shares (and therefore also Bitcoin) arose yesterday after the increased concerns about inflation. This happened after the Core PCE Price Index, the favorite inflation meter of the US Central Bank, rose to 2.8% on an annual basis. In addition, De Core PCE recorded a monthly increase of 0.4%.
On March 28, the S&P 500 lost about 1 trillion dollar to market value. This decrease was good for the biggest correction since 10 March.
With those price falls, the market also responded to Donald Trump’s trade war. This week, for example, he introduced an import tax of 25% on all cars produced outside the United States.
According to Handelsveteran Peter Brandt, the Bitcoin Koers could be on its way to $ 65,000 due to all the commotion. He sees the completion of a bear wedge-cartridge.
Whales buy a huge amount of bitcoin
Although the price movements of Bitcoin are mainly negative and a decrease to $ 65,000 is lit, the popular analyst Cole Garner is very bullish about the digital currency.
He managed to spot a signal that the last three times caused an average increase of 50% for Bitcoin, within a 50 -day period.
He actually writes that Whales is currently opening huge amounts of lung positions on Bitcoin. So they have a lot of faith in price increases and use big money on it.
What do you think? Are we going to see this in the short term? Or do we continue to fall with Bitcoin?
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Source: https://newsbit.nl/bitcoin-kan-naar-65-000-dalen-terwijl-whales-stevig-inkopen/
