HomeTodays NewsBitcoin’s $2,200 correct could prove to be a swing trade buy, claims old-school trader
Bitcoin’s $2,200 correct could prove to be a swing trade buy, claims old-school trader
May 19, 2019
Volatility in the cryptocurrency market has caused the crypto-charts to appear red and green with constant bull and bear runs. The world’s largest cryptocurrency, Bitcoin [BTC] was among the major coins involved in this continuous market turbulence.
Peter Brandt, an old-school trader had been predicting the market movement throughout this month and this time, has said that BTC entered the buy zone recently. He tweeted,
However, Twitter users argued whether the correction had already occurred in the market. @Crypt0_kenny noted that BTC ‘already did a $2,200 correction’ and that ‘it was just a swing trade for the big boys’.
“No it hasn’t done a $2,200 correction yet..a $2,200 correction will put bitcoin at $6,200”
Recently, Amazon filed a patent involving proof-of-work that supports Bitcoin [BTC] and other cryptocurrencies, which spread like a wild fire in the crypto-community.
Bitcoin [BTC] managed to cross major resistance levels from $4k and now, is preparing to breach $8k. The coin, at press time, was valued at $7,357.03, with a market cap of $24.03 billion. Over the past seven days, BTC noted a growth of 7.63% and continued to grow by 2.28%. At press time, the coin had spiked by 0.58% in an hour.