Don’t panic we’ve been through this before also.Individual markets, such as cryptocurrencies, stocks or commodities, and the economy as a whole, experience cycles of expansion and contraction It is like the economy is breathing. There are periods when practicallyeverything goes up and others when almost everything goes down
Bitcoin has gone through multiple cycles in the past, and has alwaysbounced back, with a vengeance. In fact, in history, 100% of the people whohave bought and waited 4 years or more. have seen their investment grow.History does not have to repeat itself, but it is a very good precedent.The investment horizon is key. It is very difficult to know what will happentomorrow. On Wall Street there are physicists and mathematicians who tryand almost always fail. But as we extend the time horizon, the trend iseasier to predict.
Bitcoin broke the key $28,500 support zone against the US Dollar. BTC is down 10% and might even decline below the $25,000 support zone.
• Bitcoin extended its decline below the $28,500 and $26,500 support levels
• The price is now trading below the $28,500 level and the 100 hourly simple moving average.
• There is a key bearish trend line forming with resistance near $27,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could continue to move down below the $25,000 support zone in the near term.
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