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Author Topic: [2019-05-06] Bitcoin retreating as corrections continue from a 6-month high  (Read 43 times)
cryptoin25
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May 06, 2019, 01:14:26 PM
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The "bitcoin" currency prices have seen spot trading on Monday to continue their decline for the second day in a row as correction continues and profit taking from the highest level in six months. Nevertheless, the price to visit psychological barrier levels remains at $ 6,000, Which controls the dealings of the largest digital currency in the world.

 

On the Bettestamp Stock Exchange, by 0840 GMT, the greenback is trading around $ 5,610, down $ 104, or 1.8%, at $ 5,714, the highest at $ 5,729 and the lowest at $ 5,562.

 

Yesterday, the "Bettkin" lost 0.9%, the first loss in the last six days, due to correction and profit taking, after the previous day's prices recorded a six-month high of $ 5,846 per unit.

 

Over the course of the past week, Bettkin has gained about 11%, the second weekly gain in the last three weeks, with the continued dominance of trading on the encryption market and strong investment demand.

 

The market value of digital currencies on Monday fell by about $ 5 billion to a total of $ 179 billion, with most of the major currency prices falling in the market.

 

Market capitalization jumped to $ 188 billion on Saturday, the highest since November.

 

Many analysts expect that with the level of $ 5,500 per unit stabilized, prices are likely to rise further strong, it could then trade above the psychological barrier of $ 6,000, under the rising market dominating the largest digital currency in the world since early April the past.
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May 07, 2019, 01:16:49 PM
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The overall sentiment of the market is favoring Bitcoin that is we should be expecting some climb towards the $6,000 level in the next coming days. Now, if this trend can continue there is a big possibility that within the month of May Bitcoin can be challenging the $6,300-$6,500 level. Now, a lot are asking: is this the signal for the bull run? Well, nobody can answer that question for sure but I am hoping this is it!

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veleten
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May 07, 2019, 02:17:55 PM
 #3

this kind of articles become outdated in 2-3 days
05.07.2019 the price is close to 6000 at Bitstamp (5907) and is over 6270 at Bitfinex
if there is going to be a correction from the 2019 highs , this would be not 5500 but around 5700-5800+
"overall sentiment" is that the bear market has ended and the bulls are taking over


shamc
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May 07, 2019, 03:16:36 PM
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Bulls are breaking through already. Yesterdays news is old news already. This is how fast the market is moving, meet to catch up and stay updated

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