Bitcoin
Here’s How Bitcoin’s Downtrend May End
Craig Johnson, chief market technician at American independent investment bank Piper Sandler Companies, believes that the ongoing downtrend will end if the largest cryptocurrency manages to score a close above the $26,000 level. This, according to Johnson, would confirm the start of another bull market.
Bitcoin has so far struggled to gather steam, currently trading at the $20,400 level on the Bitstamp exchange.
That said, making concrete Bitcoin price predictions is complicated since the largest cryptocurrency has no fundamentals, Johnson says.
Craig Johnson, chief market technician at American independent investment bank Piper Sandler Companies, believes that the ongoing downtrend will end if the largest cryptocurrency manages to score a close above the $26,000 level. This, according to Johnson, would confirm the start of another bull market.
Bitcoin has so far struggled to gather steam, currently trading at the $20,400 level on the Bitstamp exchange.
That said, making concrete Bitcoin price predictions is complicated since the largest cryptocurrency has no fundamentals, Johnson says.
