Bitcoin Will have to break the resistance level $8,800 for Recovery, says Crypto Expert
The Bitcoin is hovering below the mark of $8,500 that has upset the BTC traders as well as those who have invested a lot. No recovery has been seen from the past few days. The experts have expressed mixed sentiments over the future of Bitcoin in the next coming days.
Some analysts claimed that it will go down further to the figure of $7,500. But on the other hand, some crypto enthusiasts have very optimistic sentiments. According to them, $100000 is the next goal that is going to achieve by the BTC at the end of 2020.
The current trending behavior on the part of digital gold is not very good but it is not single that is moving downwards. Almost all the crypto markets are under the clouds of the red zone. All the coins are lowered by 15% but few tokens out of all have shown a slight recovery.
BTC should break the level of $8,800
A crypto analyst and expert Michaël van de Poppe has given the statement that Bitcoin needs to break the resistance level of $8,800 to move towards the greenish zone.
According to him:
So far, the 200 Moving Average on the daily and this block is holding. That’s a good sign.
He further said:
Altcoins / BTC pairs are also doing fine. That’s also a good sign. Now we need to break above $8,800.
Altcoins versus Bitcoin
Like BTC, the majority of the altcoins are slumping to a very dangerous level. But on the other hand, some coins have shown great movements. In these digital assets, Stellar is one of them that is increased by almost 10% in the past 24 hours.
It may be due to this reason that Coinbase Pro has recently announced that users from New York will now have full control over Stellar (XLM). This has fueled the price of Stellar by 10%.
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