‘It’s only a matter of time’ until bitcoin breaks out, analyst says

October 19, 2018

 

Bitcoin prices have gravitated back to $6,500, but could be on the verge of a move higher, says eToro analyst

 

Bitcoin prices moved sideways Thursday, in a third consecutive subdued session.

After Monday’s move higher, bitcoin oscillated on either side of $6,500, and in Thursday a single bitcoin BTCUSD, -0.83% was trading at $6,503.34, down 0.1% since Wednesday’s level at 5 p.m. Eastern time on the Kraken exchange. But one analyst said bitcoin’s lull may be coming to an end. “It’s only a matter of time now,” said Mati Greenspan, senior market analyst at eToro, speaking about a potential breakout for bitcoin. “Of course, the flat-line pattern could easily remain for another few months, and that wouldn’t be a bad thing; however, there are signs of excitement boiling underneath the cool price action exterior.” For Greenspan, the evidence is the rising number of transactions per second. “This is a classic indication that we’re nearing the end of the flat cycle.”Transactions per second is a barometer for the scalability of blockchain technology, which has been a roadblock to adoption of the distributed-ledger technology.

Read more...

Share on Facebook
Share on Twitter
Please reload

Featured Posts

#Binance Adds #BTT/PAX, BTT/TUSD and BTT/USDC Trading Pairs

February 14, 2019

1/3
Please reload

Recent Posts
Please reload

Beginner's Bitcoin Buying Guide

Learn how to buy

bitcoin with this free step by step guide for  beginners.

Click here to read

Please reload

Archive

© 2018 by TheCryptoCoinCenter.com  - email  us: TheCryptoCoinCenter@gmail.com

Terms of Use and Privacy Policy Disclaimer: Most of the articles, ratings, and reviews are posted because we are compensated in some way.

Follow Us
  • Facebook Basic Square
  • Twitter Basic Square