Crypto Analyst Says Bitcoin Charts ‘Scream’ Bottom – Bitcoin, XRP, Ethereum Price Analysis
Economist and crypto analyst Alex Krüger says Bitcoin charts “scream bottom”, but warns that increasing interest from retail investors is needed to push the price of BTC past $4,200 and beyond.
“Charts scream bottom, yet regardless of any bullish developments, interest in the space is still minimal. If price turns south of 3550 a new low becomes likely. The future is path dependent.”
Krüger points to seven recent developments that could boost interest and volume in the market over the coming months.
• Lightning coming to Square’s Cash App
• Binance accepting credit cards
• Mt Gox rebirth
• Facebook exploring crypto
• Bakkt possibly coming in March
• New platforrms/apps (Dharma, Abra, etc)
• Fidelity launching service for institutional investors
Right now, the price of Bitcoin is down 1.4%, hovering at around $3,935 at time of publishing. Ethereum and XRP are down 1.7% and 3.2% respectively. Meanwhile, Litecoin is up 3.8% and EOS has gained 5.7%.
Overall, technical analysts say crypto bulls have more work to do before the next potential price increase.
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