Ki Young Ju added that he would carefully monitor the technical indicators and data for a month in search of signs of bitcoin turning.
“Until Bitcoin does not overcome $ 100,000, my point of view remains unchanged – to talk about the return of the bull rally is early. But if Bitcoin reaches a new historical maximum to the fourth quarter, I am ready to discard the theory of cycles, ”Ki Young Ju said.
According to him, now the markets are excessively reacting to all the comments of US President Donald Trump and show increased volatility. Short -term price fluctuations in cryptocurrencies are much greater on news events, which complicates their analysis using indicators, the expert emphasized.
Earlier, the researchers of the FXLEADERS portal reported that the cryptocurrency market reacted 6.73% with a growth of Donald Trump’s positive statements about the possible reduction in Duties on Chinese imports.
Source: Bits
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