Bitcoin is still under the Bearish pressure which it is witnessing since the past one and a half year. The prices are coming down drastically and if these figures continue to remain same, then the prices will be going down the $7000 mark. Even though some experts believed that the prices are going to go upward $7500, that didn’t happen and there was no improvement in the prices. Unfortunately, the long term chart for the prices of Bitcoins does not looks to be very promising. Bitcoins are at this moment, down by 48% since the high of June at around $13,880. Use Bitcoin Future to trade on a safe and reliable automatic trading platform in more than 40 cryptocurrency.
With the number of sellers in control, the prices of Bitcoins seens to be tested for a 21-month exponential moving average also known as EMA at $7097 currently. The EMA has been a really strong support for the Bitcoins for the last fives months over time. Bitcoins sell-off at the record high price of $20,000 in December 2017 but after a 21 month EMA support, it ran out from it in June 2018. Within the next 4-5 months people started believing that the Bitcoin bubble has bursted when the prices were declining and that added massively to the fall in the prices.
In the long run, Bitcoins may continue to perform the same or bring a revolutionary change. Bitcoins have been the most reliable and popular crypto trading currency. The studies show that the prices are going to improve in the next few years but expecting too much in 2020 will be foolish because it will be a big risk. On top the halvening process creates a significant impact on the prices and shares as well.