empty
 
 
27.12.2017 10:59 AM
Bitcoin analysis for 27/12/2017

The Bitcoin price has already gained almost 4,000 dollars since the last corrective drop. This movement has weakened the altcoins. Last week, when prices fell below $12,000, we went through a new round of accusations about the created bubble. Now, Bitcoin owners are - as Jameson Lopp said - "more bullish than ever". The engineer who has led various known investors in the world of crypto still expresses confidence in Bitcoin's future and neglects his current technical shortcomings. He said on Twitter: "I am more optimistic about Bitcoin than in the last 5 years. Events that have been published are just the tip of the iceberg."

Moreover, John McAfee also spoke about the Bitcoin again and he has confirmed the current status quo Bitcoin network, saying: "I've been a technician all my life and if you are worried about Bitcoin, you do not need it anymore. The world of economy is waiting for the right solution, and it is Bitcoin, which is still the only guaranteed investment in the world of crypto." McAfee added that by the end of 2018, Bitcoin will be ten times more expensive than it is today, still sticking to its announcement, which predicts that by 2020, it will reach the price of one million dollars. On his Twitter, he is also known for regularly describing the selected cryptocurrency, which, according to him, will succeed. Providing such information immediately results in a marked increase in the price. The Internet is rumbling about an alleged leak that SiaCoin was supposed to be another project described by McAfee

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The price had bounced from the level of $11,130 and went up towards the technical resistnace at the level of $15,486 that was violated as well. Currently, the price is trading just below the 61%Fibo at the level of $16,376 and a breakout higher would indicate a further rally towards the level of $17,805. The long-term trend remains up (bullish).

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback