They Say NOT to worry!
Anyone at all interested in cryptocurrencies is aware that Bitcoin has been falling steadily since the beginning of the year. Last December it came extremely close to $20,000 — and it’s been downhill since then. Now the value hovers between $6,500 and $7,000. That’s roughly one third of the value at its peak. So, if you are an investor in Bitcoin, there is a very real reason to be concerned.
Well, what do the experts at World Mining (reviewed here) have to say about this? Well, they present an optimistic outlook. They state that, if the present trend doesn’t correct itself within the next few weeks, we should look forward to a major correction later in the summer — “not earlier than the second half of July.” Some of their reasons for this prediction are given in the following newsletter. I didn’t understand all of it. However, if you are “into” Bitcoin, these explanations might be reassuring to you.
So, we will wait a few months and see how accurate their prediction is…
The reasons for the fall of Bitcoin and the analytics you requested from World Mining!
The reasons for the fall of Bitcoin and the analytics you requested from World Mining!
Hello, dear members of World Mining! Against the backdrop of a decrease in the Bitcoin rate below the psychological mark of $6,500 on June 13, the continuing fluctuation in the range of $6,100 to $6,490 per coin, and also in accordance with your requests and appeals to the Company’s support service, we are hurrying to provide you with analysis from World Mining specialists for the near future.
• Analysts of the Company claim that the situation is not critical, and with an early rebound of up to $6,500, a sharp push to $9,000 is possible. In this case, if within a week the mark of $6,500 will not be overcome, then the increase in value should be expected not earlier than the second half of July. The reasons for the negative dynamics of the crypto currency, as well as the decrease in Bitcoin by more than 11%, according to analysts, can be called combined:
• First of all, these are hacker attacks on Coinrail, which caused security concerns. Despite the fact that on this day the consequences are almost completely eliminated, and the stolen crypto assets are tracked by law enforcement agencies, the trend remains negative.
• The second reason is important: the decline in consumer interest in the first half of the summer. By the end of July, the demand for crypto currency will increase, World Mining employees note, referring to the annual general statistics. Leading analysts also agree that the technical correction is valid. Technical strategist of Fundstrat Global Advisors Robert Slomimer states that the uptrend will not begin earlier than with full stabilization and rootedness around the key threshold of $7,777.
• The 4.7% decline in recent days is due to the pressure and attempted control from the CFTC. Well, regulators do not intervene for the first time in the cryptographic industry.
As you can see, the reasons for the downward trend are somewhat, however, none of them is serious enough and long-term, so you do not have to panic. Therefore, we recommend that until mid-July calmly refers to the trends of decline, emphasizing that in the second half of the summer the trend will be replaced by an upward trend. Also, we remind that World Mining does not experience a serious load at these rates, since these prices are laid in the summer budget. Therefore, there will be no changes in the regulations and work, except for those determined in connection with the vacation period!
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World Mining Team!
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