21.11.201808:32 Forex Analysis & Reviews: Bitcoin analysis for 21/11/2018

Former American presidential candidate Ron Paul asked Twitter users how they would have preferred to receive $ 10,000 if they had to keep the amount in this form for a decade. Most chose Bitcoin. 50% of respondents said they would prefer to receive $ 10,000 in Bitcoin, the second most-used asset was gold (37%), third 10-year US Treasury bonds (11%), and the last was the US dollar at only 2%.

The price of Bitcoin has been stable for a long time until it has lost more than 20% within 24 hours of the day before the study began. An analyst from the financial advisory company predicted that Bitcoin would take weeks, if not months, to "recover", and analysts from Bloomberg Intelligence argue that the coin price could increase by as much as $ 1,500.

A similar but more focused on cryptocurrencies questionnaire was carried out on Twitter by Ran NeuNer - founder and general director of investment and advisory company for Onchain Capital Cryptography. In your version of the survey, the possible answers to the same question are Bitcoin, Ripple and Bitcoin Cash.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market has made a new low at the level of $4,010 and then bounced a little to the level of $4,445. Currently, the market is trading around the level of $4,300 in extremely oversold conditions. The nearest technical resistance is seen at the level of $4,518. The larger time frame trend is still down and there is no indication of a trend reversal yet.