Will bitcoin drop further
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- 2 Окт, 2012
Bitcoin prices fall Tuesday after data show U.S. inflation rose more than expected in August. If Bitcoin falls below this support level, it could even drop further to $25, before any significant move back up. On June 15, bitcoin plunged more than 15% as investors were spooked "Speculating in cryptocurrencies is extremely high risk and is not. CRYPTOCURRENCY TAX FOUNDATION
In previous cycles, it has been up to a relatively small number of diehards to maintain the crypto flame during downturns. Today, it is different. Fortune is a media partner, and I will be there along with my Ethereum-savvy colleague, Taylor Locke. Come say hello. Jeff John Roberts. While prices could return to previous levels, they could also fall even further, leaving your investment underwater. If the past is prologue, then the current dip or crash, depending on your perspective could bounce back as it did last year, when prices fell to similar levels before returning to pre-dip levels and even peaking in the autumn.
But of course, they might not. Bitcoin prices in particular have shown a degree of seasonality to date, appearing to fall in value to lesser or greater extents in the spring before bouncing back in early summer. However, as with every kind of investment, let alone the unpredictable world of cryptocurrencies, past performance is no guarantee of future results. Pavel Matveev of digital exchange Wirex advises buyers to hedge their bets.
Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities.
Performance information may have changed since the time of publication. Past performance is not indicative of future results.
Image Credit: Shutterstock An unusually placid Bitcoin may be girding for a pick-up in turbulence and a lurch lower, if history is any guide. But now a potentially portentous indicator known as the Bollinger bandwidth has shrunk to the narrowest since The bandwidth is the gap between the upper and lower bands in a Bollinger study, a popular way of gauging volatility.
The bandwidth has been similarly narrow five other times in the past two years, according to data compiled by Bloomberg. On four of those occasions, Bitcoin subsequently shed almost 16 per cent over 20 days. Some technical analysts therefore view the tight Bollinger bandwidth as a harbinger of increased Bitcoin swings and potentially a drop in its price. The technical analysis using the algorithm says that the price of Bitcoin BTC will not decrease or fall or drop in long term.
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