Bitcoin surged to its daily high of $10,930 and abruptly corrected after it hit the 30-day moving average, which has been a strong resistance level since Aug. 25.
Coronavirus has led many investors to turn to Bitcoin as a hedge, but the way in which individual and institutional investors leverage the digital asset differ.
The Bitcoin price is at a critical level and we predict it is most likely due for a significant price correction this month—which could come as soon as the next 48 hours.
Our analysis predicts that the Bitcoin price could crash down to $8,000 following the rejection of the United States' second stimulus by Senate Democrats.
Tesla and Bitcoin’s price have both surged in the last 24 hours, however, chart analysis indicates that a Bitcoin price crash still looms for September.
Bitcoin is now more closely correlated to safe haven asset gold than ever, which enables the world’s largest cryptocurrency to be able to combat risk aversion.