Bitcoin hasn’t had a great time in terms of its price point for a while. Analysts have been busy predicting the direction the token will take in the future. The latest prediction from a leading crypto analyst claims that Bitcoin might plunge down to $1700 by June. The analyst also adds that while bulls market may be on the horizon, bears would have a shot as well.
Murad Mahmudov, a Princeton graduate and a diehard crypto trader and hedge fund head, broke down why the “famous 200-week moving average (MA) support” for Bitcoin will break in coming months. Here’s the Twitter thread for the same:
Let’s peel the onion and dig deeper and deeper into the Art & Science of Bitcoin’s $BTCUSD weekly Moving Averages: pic.twitter.com/MWe5o63iZ3
— Murad Mahmudov ? (@MustStopMurad) January 31, 2019