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Bitcoin falls below $ 46,000, experts remain optimistic

Bitcoin (BTC) slipped back below $ 45,600 on August 15, which clearly shows the enormous resistance in this area.

Bitcoin price chart (Bitstamp). Source: TradingView

Record high within reach?

As the data from Cointelegraph Markets Pro and TradingView show, BTC / USD lost the $ 46,000 mark on Saturday night after failing the attack on higher resistance.

Cointelegraph reported that the cops were slowly running out of breath as they pushed toward $ 50,000.

The subsequent U-turn with a loss of 4% provides further evidence that despite all the optimism there is still no free ticket to the top.

“For me, this area is the next big boss to defeat”, like crypto trader Pentoshi before the upcoming mammoth task warns. However, he too will remain positive in the long term.

He sees BTC / USD in a good starting position to climb to the new record high as soon as the US $ 50,000 mark is passed:

“I think that we will initially reach a short-term interim high here before it goes to the upper end of the price range.”

The Cointelegraph expert Michaël van de Poppe currently also sees Bitcoin at a crossroads, which could determine the further course development.

“Bitcoin is now at a long-term resistance”, as he accordingly on Saturday meant. And further:

“The next week will be decisive.”

That Buying and selling interest on the large crypto exchange Binance suggests that the pressure to sell is still high at $ 48,000, while support is emerging at $ 45,000.

Buying and selling interest in Bitcoin (Binance). Source: Material Indicators / Twitter

Cardano cools down

Meanwhile, the market leader’s losses also affected some large altcoins.

While most of the top 50 cryptocurrencies posted no to slight gains, the top 5 all lost.

For Cardano (ADA) and XRP, which were particularly strong the last few days, also slowly cooled off. Cardano has now lost again for the first time after a high of several months.

“Would I buy Cardano now? No, ”as Van de Poppe said in advance anticipated. He added:

“Do I assume that Cardano will increase in value in the coming months / years? Yes.”

Many experts are giving the “alternative crypto currencies” room for massive gains in the next few months, with DeFi cryptos above all having good cards.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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