The latest Bitcoin news show mixed feelings about the movement of BTC as the most dominant cryptocurrency out there. In times when the price of Bitcoin remains relatively stable, there are still some concerns about its future.
Today, we are featuring one Bitcoin analyst which spoke to a crypto media outlet in an interview and told it that a drop to $1,850 is still very likely for the most dominant cryptocurrency. Known under his handle “Bleeding Crypto” – this analyst spoke about the crucial resistant levels and the possibility of a drop to $2,400 to $3,100 as the most likely next near-term move for BTC.
According to the analyst, BTC remained in the $2,400 region in mid-2018 for several months before it dipped to $1,850 and established a bottom after the Bitcoin Cash hard fork – which in turn led to a bearish trend of the market.
As he said, a drop to $2,450 is the first step in such scenario, stating:
“I believe so because if you look at the chart on May of 2017 we maintained support at $2,450 region for months before we dipped to $1,850 and that marked the end of the BCH fork bearish trend. We shot up from there and we never came back and really re-tested that area $2,450. So, I believe like with most significant area of support, a test back is probably as price action tends to repeat itself. So a test back of $2,450 does not seem irrational.”
His tweet also went viral:
$BTC Some of you have asked for a chart on why I am calling $2400 – $3100 drop with a possible wick to $1800. Explanation is on the chart. And the way BTC is looking right now, I hope we can even make it to the rejection point! LOL pic.twitter.com/r03HjZaQsh
— Bleeding Crypto (@Bleeding_Crypto) March 8, 2019
““Bitcoin is also at one of those funny areas where it can pump with the rest of the market. Or, it can ruin every decent looking altcoin set up and retest ATH salt levels around CT,” another trader said.
Right now, the possibilities for Bitcoin and the rest of the crypto market remain open – with a lot to be seen in the near future.
Binance Enables Australian Users To Buy BTC At 1,300 Newsstands
‘’Binance Lite is a simple site for users to easily buy bitcoin with cash at physical store fronts. This model makes it really easy to bring new users into crypto, starting with Australia, where the government has taken proactive steps to support the blockchain industry. Users won’t have to open complicated online accounts to start using the service.’’The crypto market in Australia was a little behind than other markets in the world such as South Korea or Singapore because the banks didn’t support the crypto businesses in Australia. Back in 2017, during the strongest crypto rally, reports show that the larger Australian banks closed the accounts on multiple crypto investors. However, starting last year, the government of Australia began its proactive approach in regulating the crypto space and the blockchain industry so the investors are now hopeful that they could improve the market in the long run. Zhou also said that more than $5 billion in crypto was traded in crypto in 2018 in Australia and that since then the government is funding blockchain startups and companies by issuing bonds on the blockchain. The government has also started to accept crypto on airports such as the airport in Brisbane and even held a voting trial on the blockchain. He finished his interview by saying:
“Binance Lite also completes a comprehensive value chain for the Binance ecosystem in Australia. For example, users can show their friends how to buy bitcoin from Binance Lite stores, immediately load it up onto Trust Wallet on their phones, and go on to spend this bitcoin in shops accepting bitcoin payments through TravelbyBit, the payments startup Binance invested in last year.’’
Binance: Australians Can Now Buy Bitcoin With Cash From 1,300+ High-Street Stores
“Binance Lite Australia further expands digital currency adoption by providing easier ways to buy bitcoin. We are excited to continue to roll out more fiat to crypto gateways around the world to support the growth of our industry. We firmly believe that more adoption will lead to more innovation and more economic opportunities.”The account verification will occur on www.binancelite.com - and after that - users can deposit cash at the nearest Newsagent stores to receive crypto within minutes. Binance Lite Australia was designed as simple and easy to use and it sstate-of-the-art order processing technology guarantees maximum safety. Binance recently integrated the credit card payments on Binance.com and launched the fiat-to-cryptocurrency exchange (January 2019) with zero deposit fees - becoming one of the lowest priced exchanges for trading with Euros, British pounds and BTC and ETH. The fiat gateways also included the Binance Uganda, another exchange which supports the trading of Ugandan Shillings for cryptocurrency.
“Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause,” Zhou concluded.
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