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Home / Business / Despite concerns about the bonds, well-known analysts at Bitcoin (BTC) remain optimistic

Despite concerns about the bonds, well-known analysts at Bitcoin (BTC) remain optimistic



What many thought would never happen was on Thursday. Just a few days after Tether Limited, the company trailed the stalwart USDT coin, which recorded a $ 300 million crypto asset worth $ 300 million, reports that the company's operator, iFinex, is on thin ice could stand. As a result of these news, Bitcoin (BTC) fell 10% in minutes and sank to $ 4,950 on a quick selloff of $ 5,550 on Coinbase.

Related Reading: Crypto shared via Tether, some "undefined" bullish on Bitcoin

But since these news became known, cryptocurrencies have rebounded across the board, as some suspect that this debacle has no significant impact could have on the sustainability of this market.

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Not the diagram structure looks good, but also trade statistics and technical indicators. Murad Mahmudov, a popular analyst who is 75% sure that the cryptocurrency bottom is in the ground, postulated that Bitfinex's long-short positioning and Relative Strength Index (RSI) positions made him believe that an increase occurs upwards. A specific forecast was not mentioned, but Mahmudov drew an arrow that ended at $ 6,300, where Bitcoin is expected to encounter historical resistance.

The other side of the equation

Of course, others are not sure that Bitcoin's The chart looks decidedly bullish. According to a chart of Trader Financial Survivalism, this move confirms that Bitcoin's current market structure is similar to December's downturn, but vice versa. So, if the story is followed, BTC may expect a $ 1,000 withdrawal, possibly in the $ 4,200 range.

However, this may not be so easy. As some analysts, such as Crypto Birb and Satoshi Flipper, have claimed that Bitcoin should rise higher from here, it has to convincingly reach over $ 5,200 at BitMEX and $ 5,300 for a "liquidity flip test" at the time of the Writing this article, the "Liquidity Flip Test" has not yet taken place. However, with positive industry developments, such as TD Ameritrades and E * Trades' alleged plans to offer Spot Bitcoin trading, some are certain that BTC will be back to pre-crash levels in no time.

More information: TD Ameritrade follows in the footsteps of Loyalty, NYSE, and penetrates crypto to enhance feelings
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