Members of the crypto community shared their forecasts for Bitcoin further movement.
Most cryptocurrencies from the TOP-10 of the CoinMarketCap market cap rating close the week with a fall. At press time, Bitcoin is trading at $ 10,310. During the day, the cryptocurrency has lost 0.04% of its value. The Polkadot token (-4.64%) fell more actively than others within 24 hours.
Participants of the crypto community drew attention to the fact that 999 days have passed since Bitcoin reached its maximum value near the level of $ 20 thousand in December 2017.
Note that the volume of lost BTC has renewed its maximum. When calculating indicators, experts also use data on bitcoin, which has been without movement for a long period of time (cryptocurrency can be stored on the wallets of investors focused on investing in BTC for a long time).
Despite the fact that the cryptocurrency for a long period of time, despite the implemented halving, does not grow, the members of the crypto community urge not to abandon its storage. Many agreed with the idea that long-term investment in BTC is currently equal to the practical use of a digital asset. Investors explained this point of view by the fact that storing savings in bitcoin protect funds from inflation.
Protecting your money from theft through inflation is a very real use case.
— Lina Seiche (@LinaSeiche) September 10, 2020
Against the background of the continued stagnation of bitcoin, members of the crypto community made forecasts for the further movement of the cryptocurrency rate. For example, analysts at Weiss Crypto believe that the asset will not fall below $ 10,000 in the near future.
#Bitcoin price balances at $10K. We don’t think #BTC is going to go below 10k anytime soon. It’s support, just like 350 was support for #ETH. For BTC, we’re looking at least at a temporary short-term low.
— Weiss Crypto Ratings (@WeissCrypto) September 10, 2020
A popular trader in the crypto community under the nickname hodlonaut.hodl agreed with the analysts’ opinion.
We will remind, earlier Bit.News shared a forecast of the further movement of the bitcoin rate.