Feb 16, 2020 22:15 UTC
Feb 16, 2020 at 22:15 UTC
Bitcoin Price Fall Down Under $9000; ETH below $200
Current analysis records that the cryptocurrency market might not escalate the time and bring improvements from current activity. According to Quantum Hedge Fund Data, Ethereum, Bitcoin prices are anticipated to face the current market situation in picking up the pace to develop the 2020 bull market.
In recent days, Bitcoin’s price has settled between $10,200 and $10,300. At this range, Quantum is anticipated to the leading coin to the leading coin to move down again, returning to fall by $9,000. Whereas the exact situation price moves are unpredictable, BTC is offering a tremendous rise to renewed bearish attitudes.
On Saturday, Bitcoin reaches to $10,239.47, while Ethereal got a hold on around $282.86. For Bitcoin and Ethereal are levering up with the trading activity showcases a deep war between bullish and bearish attitudes. Short-term traders might cause price swings, but the overall analysis of Quantum reduces to $8,600 for BTC.
Ethereum has to protect its major rally of the asset traded below the $200 mark before moving vertically with wild gains and the possibility to vault $300. The crypto market holds an optimistic start in the current year with the prices levering up in the past months. The market maintains a tradition of quarterly improvements. At present, the Altcoin market is expected to breakdown erasing some of the recent earning for most Altcoins.
The research on Quantum comes up with major optimism. The bitcoin greed index and Bitcoin fear are escalating to over 64 points, which is considered the same since mid-2019. Hence, this index is analyzed with an aggressive approach from the current situation. The index is expected to shift into gear with a bit of change in the pricing.
For both assets, the drop is anticipated to showcase at a great pace, followed by a brief recovery. Moreover, a new price action cycle starts to develop.
The chief narrative for Bitcoin price remains the halving of the block reward. Taking place in 86 days, the halving predicted to reach $14,000 BTC prices, or a larger breakthrough. But for now, Bitcoin remains range-bound, with the $10,000 level and is on the verge to settle on the top of the range. After failing to stand $10,500, Bitcoin price introduced the conduct for better improvements.