Tracing Bitcoin from its Jan 11th flashcrash to now, extended…

Tracing Bitcoin from its Jan 11th flashcrash to now, extended…

Bitcoins flashcrash on January 11th 2021 was a 31% drop, the current one is the same length, if it holds at the current support level and maintains the 4 hour EMA then retracing the same path, extended into the future puts it at the current price in the next couple of weeks, before a push towards the £50,000 mark at the start of April just before the new tax season. Setting new ATH’s from the end of March.

With $2Billion BTC having been transferred over to Gemini, a more institutional orientated platform. This could be the start of the whales and institutions trying to monopolise (and stabilise) bitcoin , whilst hiking the prices for the BTC left in other platforms for retail traders. With ETH launching 2.0, cross chain projects springing up, and Celo looking to bring crypto to a more public consumer & mobile payments market, will Alt coins finally start to move away from recting to every twitch BTC has after this?

Published at Tue, 23 Feb 2021 12:13:53 +0000

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