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Cryptocurrency were mixed on Friday with further declines expected

2019-08-16 11:59 am | Resource: | No Views : 16

Cryptocurrency were mixed on Friday with further declines expected Cryptocurrency prices recorded mixed trading on Friday with a tendency to rise after facing a lot of downward pressure, Bitcoin surrendered yesterday and fell to nearly $ 9,500 before rebounding and recovering its position above the base price of $ 10,000.

Now, a leading analyst who predicted the first half of 2019's uptrend now claims that Bitcoin may test its 2019 trend line in the near future, meaning a drop below $ 9,000 is imminent.
  • The market value of the Bitcoin currency market was $ 180.93343 billion, or 68.09% of the total market value of cryptocurrencies
  • The total market value of etherium was $ 19.81427, or 7.46% of the total value of the cryptocurrency market.

Constant estimate of Bitcoin and gold

Bitcoin or digital gold as it is often called, has been steady over the past few years. In 2018, it fell more than 80%, while in 2019 so far, Bitcoin has gained more than 160%. The graph's full-time extrapolation of the long Bitcoin contract history shows an equivalent price curve taking into account these large market cycles.

The value of both gold and bitcoin is expected to rise dramatically as one accelerates and other gains decline over time. After the intersection of the two equivalent lines, which occurred about 18 months ago according to this scheme, the two lines appear to be increasing at similar rates.

From around 2025 to about 2040, the assets can be valued at a very similar rate with the possibility of fixing bitcoin prices on gold. This of course assumes that there has been sufficient adoption of BTC and its use for volatility to decline, while investment in gold continues to increase over time. The ensuing representation with gold prices was multiplied by 400.

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  • Bitcoin was last at $ 10,082.0, up 0.26% on the day.
  • Ethereum was trading at $ 183.55 an increase of 0.37%.
  •  The ripple fell 0.9% to $ 0.25665.

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