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The growth of the first cryptocurrency above $ 22 thousand can not be called the beginning of an uptrend, in the near future the asset will again become much cheaper, the expert is sure
The current growth of the bitcoin rate to a local maximum of $ 22.3 thousand is a temporary rebound, it cannot be perceived as the beginning of an uptrend, says BitOK CEO Dmitry Machikhin. He pointed to general trends in financial markets, including the stock market, economic downturn and recession.
“Such a risky asset as bitcoin cannot grow against the trend. Therefore, temporary rebounds, or speculative bull traps cannot be perceived as a trend towards growth, “the expert emphasized.
He predicted in the near future the return of bitcoin to levels below $ 20 thousand In the event of a deterioration in the situation, the cryptocurrency can test the zones of $ 18-16 thousand, then $ 15 thousand and go lower, Machikhin warned.
As of September 12, 14:15 Moscow time, bitcoin is traded at $ 22.1 thousand, over the past day, the cryptocurrency has risen in price by 2.3%. Its quotes have been growing over the past five days after they fell to $ 18.5 thousand on September 7, since then the asset has grown in price by 20%.
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