Rager: Don’t Expect to Rise Up Soon (Bitcoin)

Bitcoin had gone below $ 4,000 the other day. After this situation, which disappointed many people, both BTC and the markets started to recover a little. According to CoinMarketCap data, Bitcoin was trading at $ 5 thousand 474 at the time of writing. However, Ethereum, which has decreased below $ 100, is currently trading at $ 130.

Don’t Expect Rise Up Soon

Famous analyst Josh Rager recently stated that an increase should not be expected. According to Rager, this will take some time. Rager said: “Most of the sale of BTC stems from investors’ desire to make money. The same cash will not flow back to Bitcoin soon. So, unless you stock up or convinced your entire city to buy Bitcoin, don’t expect an uptrend soon. ” Rager also stated that coronavirus (kovid-19) affects this situation. Rager said:

“When I last checked in, countries around the world, including the USA, close schools and public events for at least a month. As Kovid-19 continues to spread, the economy will be greatly affected. Do not expect a fast turnaround especially in crypto markets. ”

A big part of $ BTC selling off is due to a panacked marketplace where traders are looking to get into cash

That same cash isn’t going to be flowing back into Bitcoin anytime soon

So unless stocks rally, or you convince your entire town to buy Bitcoin

Don’t expect a rally soon

– Josh Rager @ (@Josh_Rager) March 14, 2020

Another analyst, Crypto Michaël, mentioned the hope of $ 6,000 in support. The famous analyst said: “The level of $ 4,700-4,850 is very critical for me. I think we’re going to test $ 4,100 and probably lower levels and get liquidity there. After that, we see the potential for an increase of $ 6,000- $ 6,400. ”

$ BTC the #BITCO

The $ 4,700-4,850 level is pretty critical for me here.

Losing it and I think we’re going to test $ 4,100 & most likely the lows and take liquidity there.

Holding here & we can see upwards potential to $ 6,000-6,400. pic.twitter.com/ahoaa3a3z7

– Crypto Michaël (@CryptoMichNL) March 13, 2020

@ truecrypto28 said: “A positive note for the future is this: Fear turned BTC into cash. However, they will request BTC positions back when the event is over. Many SPOTs will be purchased without too many willing sellers. ”