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Despite Bitcoin (BTC) Stagnation, the economy has high expectations of crypto



  • Bitcoin (BTC) carries slowly
  • In 20-30 years, Bitcoin will be money, says a Chief Economist from 1969

Andrew G. Haldane, Chief Economist of the Bank of England, believes that Bitcoin will Make money in the next two to three decades. Currently, BTC is trending within a $ 30 range that bears trying to hit lower.

Bitcoin Price Analysis

Fundamental

Well, it has been a bit for Bitcoin and most crypto inverters because of their direct correlation with King. Although some skeptics such as Roubini and traditional market initiators like Kevin O & # 39; Leary of Shark Tank have doubts, the Bitcoin performance over the last decade has been impressive. Bitcoin is designed to accommodate bankers and decentralize control, and is now a global phenomenon. It is the basis for research and a mix of different subject areas, including economics and cryptography.

According to Andrew G. Haldane, CFO of the Bank of England, electronic cash like each other will be money for the next two to three decades. While addressing the students, an eyewitness said:

"Mr. Haldane said that [Bitcoin] could replace cash. He even joked about us probably having Bitcoin in our wallet. He said he didn't think it would replace cash tomorrow." but he was quite open to the idea 20 or 30 years down the line. He was also quite familiar with crypto course values ​​and joked that there were thousands of them. "

Candlestick Arrangement

 Bitcoin BTC

] However, bears are declining and bear the momentum decreases. Bitcoin (BTC), but up 2.1 percent at the time of pressure, corrects, prints lower downs than in tight trading areas. Simply because of this, our latest BTC / USD Trading Plan Valid.

Despite yesterday's slowdown training in support of smaller time frames, the fact that prices are in a $ 60 series just above middle BB is a hint of underlying demand, yet, lack of buyers screaming Weighing higher and preventing liquidation as the volume shrink is an indicator of sales pressure.

By entering a single Fibonacci retracement tool in May high low, it is revealed that yesterday's prices tested the 78.6 level. However, typical of Bitcoin corrections and even with today's withdrawal, we expect a retreat of the $ 6,300 mark before Bitcoin returns to the primary trend.

Technical indicator

In general, average participation is high. By yesterday's closing, the average volume of 31k against 21k was May 13th. Nevertheless, the volumes are slightly lower at 37k versus 47k on May 13th.

Therefore, for trend continuation or nullification, a bar that closes over $ 8,500 or $ 5,600 should be at high volumes exceeding 47k.

  Card with the Act on Trading View. Image Courtesy of Shutterstock 

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