Bloomberg: Bitcoin growth in February does not guarantee bullrun
Source:
Recall, almost every February in history ended with the growth of cryptocurrencies. This year, the trend continued — Aktiv interrupted his long «streak» and has managed to grow from 3,500 to 3,900 dollars for the specified period. However, to indulge the euphoria is still early, after all, BTC was not out of the bearish trend.
theit's Time to temper the optimism
Trader under the name SalsaTekila published in Twitter a very interesting chart. According to his technical analysis, bullish growth in February did a lot of good to the growth prospects of Bitcoin in the coming months. In the comments his point of view was supported by other experts.
Chief analyst, eToro's Mati Gripen also tells about a positive mood in the market. He explained that it's good to see the first «green month» Bitcoin for such a long time. According to him, the growth dynamics of total value of transaction network cryptocurrency is also encouraging. In short, Greenspan still expects bullrun.
But analysts Bloomberg quite a different opinion. They say that even in February the growth of Bitcoin is not made for anything useful asset in terms of prospects of higher prices. They «clouded» — the indicator of the GTI, which measures the behavior of market players indicates a strong overbought.
The outlook for Bitcoin remains cloudy
— Bloomberg Crypto (@crypto)
In March, we can expect another strong drain in which Bitcoin «form a new global minimum». The situation is getting worse every day, because the main cryptocurrency and are unable to gain a foothold above $ 4,000.
Well-Known personalities in cryptocommunist, on the contrary, give its users positive tweets. Trader MagicPoopCanon notes that Bitcoin is still holding above the moving average 50 EMA on the 1-day chart, though, cryptocurrency and is in a long term bearish trend.
Like I Said, Don't Freak Out. Bitcoin's 50 EMA is Holding! (BTC) — chart
— MAGIC (@MagicPoopCannon)
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