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The Bitcoin price fails to test another $ 10,000, alternative cryptocurrencies are also removed

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The Bitcoin Award has failed to keep up in the $ 10,000 region and has dropped more than $ 400 in the past 24 hours, alternative cryptocurrencies (altcoins) and tokens have followed the trend of bitcoin prices, falling in the range of 5 to 20%.

Where is Bitcoin Going From Here

Analysts were optimistic about the price trend for bitcoin, as the price of bitcoin went from $ 6,500 to $ 9,900 in three weeks, supported by a gradual increase in volume and price. request. The constant recovery of bitcoin has allowed the Williams Relative Strength Index (RSI) and Percentage Range (WPR) to demonstrate a neutral zone, showing neither overbought nor oversold conditions.

However, as he had done in his previous attempt, the price of bitcoin did not exceed $ 10,000 after briefly testing it on May 5. In other major markets such as Hong Kong and South Korea because of their premium rates, but in the United States, the price of bitcoin reached $ 9,900 and dropped to $ 9,600

At the time of writing, the price of bitcoin remains below $ 9,600 and it is not certain that bitcoin can launch a new rally in the $ 10,000 region. The bitcoin RSI is currently 59.2, meaning a neutral zone. Exponential and simple moving averages show a healthy short-term trend for bitcoin, which demonstrates a strong buy signal.

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Previously, the price of bitcoin had dropped nearly 10% after testing the $ 10,000 mark, triggered by the sale of Mt. Gox Trust Fund on cryptocurrency trading. At the time, the price of bitcoin dropped from $ 9,800 to $ 8,800 in a single day.

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In the last 24 hours, the price of bitcoin has only dropped by $ 400 after testing $ 10,000, which shows that bitcoin has gained stability in the 9,500 region $ and that he is able to bounce back after massive sales. ]

Negative press

Once again, while the price of bitcoin collapsed and recorded a slight loss of value, it began to receive a negative press. The billionaire investor Warren Buffett, who is often described as one of the most successful investors in recent history, said that bitcoin is worse than rat poison.

Buffett warned investors that bitcoin "will come to a bad end", but admitted that Berkshire Hathaway does not have any and does not have any. do not have one. "We have none, we do not miss it."

Although unlikely, analysts have said that the negative bitcoin press based on the unfounded conviction offered by experts in the finance industry, such as Buffett.

Yet, some reports suggest that the world's largest investors and economists have turned to insults at primary school rather than logically, which shows that critics are not able to offer arguments against bitcoins. cryptocurrency and blockchain technology.

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In general, the cryptocurrency market is in an ideal position to recover in the short term, as it has already exceeded $ 450 billion in valuation and the volume remained intact in the $ 26 billion.

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