After completing the inverse head and shoulders formation Bitcoin price failed to pop. Does this mean the cryptocurrency has further to fall?
As the sky-high bitcon 00 predictions of $25,000, $50,000 and $60,000 continue, there seems to be a divergence between the opinions of billionaires, institutional financial analysts and bitcoin’s actual price. Last week, the explanation for the forever delayed Wall Street crypto bull run was cryptocurrencies being in a ‘healthy’ bottoming process. While this week smart money proposes that institutional investors are waiting for bitcoin to dip down to, or below $5,000 USD before the floodgates burst and billions upon trillions of dollars flow into cryptocurrencies. Or perhaps everyone is waiting on the SEC’s Bitcoin ETF decision next month?