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    IS BITCOIN BREAKING ITS UPTREND?

    Even though there is a lot of hype around the cryptocurrencies, the price of the major ones like Bitcoin, Ethereum, Litecoin and Ripple have been showing a bullish trend with high probability of breaking their all-time highs. Bitcoin did break its all-time high when it was valued close to $20,000. This is because most of the investors in the cryptocurrencies are not using it as a currency for making payments and as a result, the demand for Bitcoin is not very high. The investors in the cryptocurrencies are holding on to the coins and are waiting for the prices to go up. This has prevented the coins from gaining in value during the recent market correction. This is why we are seeing a steady decline in the prices of the cryptocurrencies.
    However, it’s gonna fall. When stock market opens we drop to 36k, 32k by the end of the week. Next week with the rate hike we’ll go to 28k.
    If the rate hike is gonna break something in the market we might drop to 24k or even lower depending on how bad it is.

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