The analyst’s opinion: the price of bitcoin could fall to $ 2,800 this year

According to the bitcoin price schedule published by Bloomberg, the 50-day moving average is approaching the 200-day moving average. If he touches the latter, or, worse, crosses it, the price of bitcoin will drop significantly.

The 50-day moving average is approaching the 200-day moving average

Given these trends and comparing them with the situation in 2013, Paul Day, a technical analysis specialist from Market Securities Dubai Ltd. said that the price of bitcoin would eventually drop to $ 2,800.

2013 is considered one of the worst years in the history of BTC. First, in April this year, the price fell from 233 to 67 dollars in April, which is a 71% drop, which occurred in less than 12 hours. Within two months after that, the price remained extremely unstable. November 30, 2013, the price of bitcoin set a new record at the level of 1.126 US dollars, but within 24 hours the price fell by 19%, but only in order to December 5, 2013, set a new record in the area of ​​1.155 US dollars. After the price fell by 41% and rose again by 47%, before falling to $ 503 on December 19, 2013. All this led to the fact that the price took more than three years to again overcome the barrier of a thousand dollars.

Day is not the only analyst who predicts a low price for bitcoins in the future. With him agrees Robert Slammer, technical strategist at Globalstrith Fundstrat Global Advisors, and many other technical analysts.

At the moment, the price has fallen below 8,000 US dollars on the eve of the G20 summit, where two days will be devoted to the discussion of the crypto currency.