Cryptocurrency

15/11/18 10:31 UTC-4

Omkar Godbole: "Bitcoin looks very weak after dropping to a 13-month low"

Omkar Godbole about Bitcoin falling
Omkar Godbole about Bitcoin falling

Bitcoin looks very weak after reducing the price to a 13-month low, on Wednesday 15 November. According to traders, the price may soon fall below $ 5 000, - Omkar Godbole for Coin Desk.

The most popular cryptocurrency in the world and the most expensive at market value yesterday, November 14, fell to $ 5,324 (Bitstamp price), reaching the lowest level since October 18. The average price on the main exchanges, calculated on the price index for CoinDesk, fell by 10 percent – the biggest one-day decline since March 30.

While BTC collapsed to $ 6,000, a convincing breakthrough below this level indicates a resumption of sales from a record high of $ 20,000 (which was reached in December last year).

As a result of today's events, a lower drop in "digital gold" looks very likely. It is noteworthy that the widely used "technical indicator" is currently the lowest since September 2014.

As of this writing, BTC drops to $ 5,400 at the Bitstamp, although the morning low was $ 5.641. Yesterday, the BTC closed yesterday with an indicator of $ 5,595.

To summarize, the odds add up in favor of falling below the support of $ 5,000, and the oversoldness of the daily RSI indicates that this can happen as soon as possible.

Editor: Yulia Krasnaya

See also: "Extreme fall of the Cryptocurrency Market: BTC fell below $ 5,500"

#Omkar Godbole #cryptocurrency #Bitcoin #course drop #financial analyst

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