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WAIT
Since November 28, Bitcoin has been oscillating in a range with support at $56578 and resistance at $59000. Chartists interested in harmonic patterns will have noticed the formation of a Bullish Shark Pattern, which reached its first target of $58,000 two days ago, inside the range. According to the theory of harmonic patterns, the next two targets for the bulls are at $66,000, and eventually at $69,000, which could potentially be reached if BTC breaks its upward range. Bears, on the other hand, are waiting for BTC to break lower, with the short-term target of the $53,500 institutional zone.
Cryptocurrencies
WAIT

After an all time high established on November 10 at $69,000, Bitcoin has since made a correction and is currently trading at $57,000. Its movement is leading it to a strong support around $52,000, materialized by the high established on September 7, the trend line connecting the lows of July 20 and September 21, and the 23% Fibonacci retracement. If Bitcoin breaks this strong support and continues its downward movement, its next target will be the support line of the bullish channel it is currently trading in. This area is around $45,000, corresponds to the 38% Fibonacci retracement, and could be a very interesting rebound area, for bullish traders.

Cryptocurrencies
RISKY BUY

ALWAYS HIGHER

The cryptocurrency market surpassed $3 trillion on Monday, with 40% of the market for king bitcoin and just under 20% for Ethereum . Presumably attracted by the extraordinary gains the market allows, and at the same time worried about inflation in Europe and North America, investors are getting on board more and more. Some are buying crypto-currencies, others are investing in start-ups, participating, for example, in IDO's. A real ecosystem is being created.

Financial bubble or real transfer of wealth? It's hard to say, but it's certain that there is a great deal of speculation in everything that is being created. In the early 2000s, the Internet had its own, and we all remember the subprime crisis of 2008.

Nevertheless, through Bitcoin, crypto-currencies have shown (for the biggest projects at least), that they are able to resist censorship (China will be able to testify to this), that transfers are now quasi-instantaneous, and that consensus algorithms allow for a security that has nothing to envy to that of banks. Some analysts predict that by 2025, DeFi will have multiplied its value by 100.

Cryptocurrencies
COMMENT
Very difficult to say what the value of bitcoin is. Demand is greater than supply since bitcoin is limited so the price rises. However, generally speaking, he would not recommend people invest in crypto. Could trade it.
Cryptocurrencies
RISKY BUY

A DECISION WITH SERIOUS CONSEQUENCES?

On May 22, China concluded its series of anti-cryptocurrency announcements with a total ban on Bitcoin mining on its territory (for the sixth time in eight years).

As expected, the announcement was a bombshell and the price of a Bitcoin dropped by 15%. At first glance, this news was greeted by Bitcoin's detractors as a death sentence, but more importantly, it allowed for a decentralization of the Bitcoin mining network, which was once dangerously centralized in China (as of April 2020, it accounted for about 65% of the Bitcoin hashrate, compared to 7.2% for the US and 0.82% for Canada).

The hashrate is a component of the consensus proof of work. Basically, it is the number of attempts made per second to solve the cryptographic problem necessary to validate a new block. The faster you are, the more transactions you can validate, and thus mine Bitcoin.

5 months later, the United States is now in 1st place, with 35.6% of the hashrate, Canada has also become a mining superpower and now has 9.55% of the hashrate, in 4th place. This situation is suddenly starting to worry China. A statement was indeed published by the National Development and Reform Commission (NDRC), questioning Chinese entrepreneurs on the relevance of continuing the ban on crypto mining.

Bitcoin has recovered very well from this situation and its price is trading around $63,000.

Cryptocurrencies
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Bitcoin (BTCUSD)(CRYPTO:BTC) Rating

Ranking : 4 out of 5

Bullish - Buy Signals / Votes : 2

Neutral - Hold Signals / Votes : 0

Bearish - Sell Signals / Votes : 0

Total Signals / Votes : 2

Stockchase rating for Bitcoin (BTCUSD) is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

Bitcoin (BTCUSD)(CRYPTO:BTC) Frequently Asked Questions

What is Bitcoin (BTCUSD) stock symbol?

Bitcoin (BTCUSD) is a OTC stock, trading under the symbol CRYPTO:BTC on the (). It is usually referred to as or CRYPTO:BTC

Is Bitcoin (BTCUSD) a buy or a sell?

In the last year, 2 stock analysts published opinions about CRYPTO:BTC. 2 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Bitcoin (BTCUSD).

Is Bitcoin (BTCUSD) a good investment or a top pick?

Bitcoin (BTCUSD) was never recommended as a Top Pick on Stockchase. Read the latest stock experts ratings for Bitcoin (BTCUSD).

Why is Bitcoin (BTCUSD) stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is Bitcoin (BTCUSD) worth watching?

2 stock analysts on Stockchase covered Bitcoin (BTCUSD) In the last year. It is a trending stock that is worth watching.

What is Bitcoin (BTCUSD) stock price?

On 2021-12-08, Bitcoin (BTCUSD) (CRYPTO:BTC) stock closed at a price of $50293.25.