If Bitcoin Can Raise Above 15670.00 by May 2018, the Currency Has A Chance At Survival
Bitcoin is currently in a downward trend following their massive gains at the end of 2017.
We previously predicted the rise and fall of Bitcoin.
To give some insight on how we predict and calculate financial data we look at the price of it, the long-term fluctuation, as well as the short-term changes in price.
When looking at past trends in the stock market, a person can see the high and the low of the price to a stock, company or currency. With Bitcoin we looked at the second latest high mark at 15670.00. We can see that the most recent high mark is at 15124.00 price point. That does show a downward trend.
It is possible for the price to jump back up over 15670.00 and create an upward trend.
As I have reported in the past, one of the reasons Bitcoin has seen a drop in price during this time period is due to the consumers having to pay taxes on their commodities.
I find that the price will continue to drop off over the next few months. Investors may look to create the next wave starting in April 2018, and once again sell off their gains at the end of the year.
Watch over a clip from CBS on the topic via YouTube.