Against the background of the negative movement of the most capitalized cryptocurrency exchange rate, the popular analyst and partner of Adaptive Capital fund Willy Woo drew the attention of the crypto community to one feature of the BTC position.
Kissing the 128d MA is a very good sign. It was overheated till this. People familiar with BTC’s historic personality know that the 128d line needs to be touched many times during a bull market to stay grounded. They present good buying opportunities. pic.twitter.com/1QBo3QjtgD
— Willy Woo (@woonomic) August 29, 2019
Earlier, Galaxy Digital cofounder Mike Novogratz also spoke in favor of bullish sentiment in the digital asset market. In his opinion, the current decline in the rate of BTC should be perceived as a correction after a long period of growth.
Note, at press-time, the rate of BTC varies greatly, depending on the exchange. Therefore, for example, BTC is trading at $ 9,573 at Bitstamp. At the same time, the asset rate on another trading platform (EXMO) is at $ 9857.
According to some crypto experts, BTC can drop to the level of $ 9,000.
Checking #COT data … hedge funds and large money managers pretty neutral. Its the non. rep. (banks) that are all in short. Looking at $9k for breakeven 🤔. Shorters have some room to play but i wouldnt get too bearish yet. pic.twitter.com/wQojla97m7
— CryptOrca (@CryptOrca) July 14, 2019
Against the background of the negative movement of the exchange rate of the most capitalized cryptocurrency, the total remuneration payments to miners reached $ 14 billion. At the same time, the hashrate of the network continues to grow.
Despite the current drop in price on the cryptocurrency market, some users see prospects in acquiring assets at the current exchange rate. In particular, the purchase of BTC during a price reduction can be considered as an investment in the long-term.