Bitcoin Price Analysis: Bitcoin Mania Like an ‘Infectious Disease’

Bitcoin Price Analysis: Bitcoin Mania Like an ‘Infectious Disease’

Analysis
April 11, 2018 by Bitzamp
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Bitcoin Price Analysis: Bitcoin Mania Like an ‘Infectious Disease’ Barclay’s analysts have developed a cryptocurrency pricing model based on epidemiology – the study of the spread of disease by populations that divides the group of potential investors into three groups, “susceptible”, “Infected” and “immune”. Bitcoin has been heavily weighed, by increased regulation and bans on
Bitzamp

Bitcoin Price Analysis: Bitcoin Mania Like an ‘Infectious Disease’
Barclay’s analysts have developed a cryptocurrency pricing model based on epidemiology – the study of the spread of disease by populations that divides the group of potential investors into three groups, “susceptible”, “Infected” and “immune”.

Bitcoin has been heavily weighed, by increased regulation and bans on cryptocurrency ads last month, but it has been increased by a large hedge funds investing in the industry. The price has struggled as a rebound while traders rushed to liquidate positions as the tax deadline approaches this month.

Currently, Bitcoin is trading below $7,000 on major cryptocurrency exchanges, having fallen from around $11,500 in early March. At its peak in December 2017, a bitcoin was worth nearly $ 20,000.
The spectacular price increases were won by a sharp increase in interest in cryptocurrency at the end of last year. Barclays Bank’s analysis recently labeled that fast surge an “infection” which behaved like a disease, and has now been treated.

The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is decreasing. However, the difference between moving averages is reduced to a weakening signal and a potential return potential.
Stochastic is already on its way down to signal that bears are regaining control. In that case, another test of support could be due, especially since the 100 SMA is holding as dynamic resistance so far.

The latest falls in Bitcoin prices have been reflected in other cryptocurrency markets, with ethereum, ripple, bitcoin and litecoin all experiencing significant losses in recent months.
This downward momentum has led some analysts to speculate that more price falls for bitcoin can be expected, although they are cautious to state it will fall below $6,000 in the short term.


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