Analysis: BTC Price Is Closely Resembling the Stock Market's Massive Drop in 1930

Abstract : Bitcoin trader PentarhUdi said that the U.S. stock market trend in 1930 was highly similar to the BTC prices in recent weeks. PentarhUdi wrote: “I got a bearish target between $1800 and $2500.

ChainDD
ChainDD

Mar 29

According to U.Today news, Bitcoin trader PentarhUdi said that the U.S. stock market trend in 1930 was highly similar to the BTC prices in recent weeks. PentarhUdi wrote: “I got a bearish target between $1800 and $2500. In this case weekly 200 SMA will be broken and become resistance. Many time and affords will require to break it up and make it support.”

He further emphasized that it is the concerns about global financial markets that have amplified the decline in investor interest in high-risk assets. “Amid global financial panic Bitcoin price aggressively attacks Weekly SMA200 and bottom triangle line of previous chart. I see this might not end as well as i thought. As the bearish potential of global markets is huge,” PentarhUdi added.

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