{"id":5021,"date":"2018-10-13T05:06:53","date_gmt":"2018-10-13T05:06:53","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=5021"},"modified":"2018-10-13T05:06:53","modified_gmt":"2018-10-13T05:06:53","slug":"news-commentary-553-bitcoin-set-to-crash-bitboots-prediction","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=5021","title":{"rendered":"News Commentary #553 – BitCoin Set to Crash? BitBoots prediction…"},"content":{"rendered":"

Now Trading at Around $6,300.<\/strong><\/p>\n

We rarely publish news about cryptocurrencies as there is so much of it.\u00a0 However, periodically BitBoots<\/a> (reviewed here<\/a>) has updates on cryptocurrency news that are very informative and extremely well-written.\u00a0 They just published such an update giving their reasons why they expect the value of BitCoin to drop to $6,000 (or lower?) in the coming weeks.\u00a0 They give four reasons for this based on a technical analysis of trading trends and other factors over the last few months.\u00a0 Below I am going to reprint the introductory information from their update.\u00a0 If you would like further information, please go to the BitBoots <\/a>website for a detailed presentation of the four reasons for their prediction that the value of BitCoin might decrease significantly.<\/p>\n

4 Reasons Why Bitcoins Price Could Now Drop to $6K<\/strong><\/p>\n

Bitcoin’s drop to three-week lows today has likely kick-started a bearish move towards the major support at $6,000, technical charts indicate.<\/p>\n

The leading cryptocurrency fell to $6,252 at 7:15 UTC on Bitfinex \u2013 the lowest level since Sept. 19 \u2013 and was last seen trading at $6,300, representing a 5-percent drop on a 24-hour basis.<\/p>\n

The\u00a0failure\u00a0to capitalize on Monday’s move above the crucial 10-week exponential moving average (EMA) resistance of $6,998, despite the upside break of a key falling trendline, ended up emboldening the bears,\u00a0as expected.<\/p>\n

More importantly, the sell-off witnessed in the last few hours has put an end to a prolonged period of lateral trading. The technical indicators have rolled over in favor of the bears, adding credence to the bearish setup on the long duration charts.<\/p>\n

Further, the big drop in the equity markets this morning may not bode well for BTC, as the cryptocurrency is still being treated as a risk asset.<\/p>\n

As a result, the cryptocurrency is eyeing a drop toward $6,000. Here are four reasons why that is looking likely\u2026<\/p><\/blockquote>\n

Please see the BitBoots<\/a> website for the remainder or the update.<\/p>\n

\"\"<\/a><\/p>\n

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Now Trading at Around $6,300. We rarely publish news about cryptocurrencies as there is so much of it.\u00a0 However, periodically BitBoots (reviewed here) has updates on cryptocurrency news that are very informative and extremely well-written.\u00a0 … News Commentary #553 – BitCoin Set to Crash? BitBoots prediction…<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":4791,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[1665,1674,1670,1671,1673,1678,1672,1675,1676,1677],"class_list":["post-5021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-information","tag-bitboots","tag-bitboots-info","tag-bitboots-investment-plan","tag-bitboots-investment-program","tag-bitboots-news","tag-bitboots-review","tag-bitboots-scam-or-paying","tag-bitboots-update","tag-bitboots-updates","tag-bitboots-com","exalt-entry"],"yoast_head":"\nNews Commentary #553 - BitCoin Set to Crash? 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