Peter Schiff: Bitcoin to drop below $ 4000

Posted 25 September, 2019

Bitcoin has broken through an important level of support, so now its price has begun to move towards the $4,000 mark, said Peter Schiff, gold supporter and head of Euro Pacific Capital. In his opinion, the bearish trend has returned, so in the near future the situation in the market will worsen.

"Bitcoin has finally broken below the support line of the large descending triangle it has been carving out for months. This is a very a bearish technical pattern, and it confirms that a major top has been established. The risk is high for a rapid decent down to $4,000 or lower!" wrote Schiff.

He added that in the long term, the level of $ 4,000 will not stand, and the price of the main digital coin will go much lower. The expert believes that bitcoin cannot be compared with assets like gold, since it is not a tool not for investing, but entertainment for speculators. He also does not consider Bitcoin a protective asset. The critic claims the first cryptocurrency will never cost $ 50,000.

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26 September, 2019 09:40

← Binance expands deposit options with bank cards

Binance cryptocurrency exchange has entered into a partnership with the London payment company Koinal. Customers will have additional opportunities to purchase digital currencies using bank cards and transfers.

Binance expands deposit options with bank cards

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25 September, 2019 15:30

Mass liquidations reported on BitMEX →

BitMEX exchange liquidated totaling $710 million. The trading volume under Bitcoin contracts amounted to about $1.5 billion, this is the largest value since the beginning of the year. At the same time, the average daily amount of transactions on the site in September is $1.35 billion, which is 37% lower than in June.

Mass liquidations reported on BitMEX
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