Technical analyst Erhan Ünal is evaluating the course of the number one cryptocurrency Bitcoin.
Erhan Ünal, who predicted the downturn in February with the price of Bitcoin at 10 thousand dollars, with a post shared on his Twitter account , explains the current situation in his first article on uzmancoin.com:
Cryptocurrencies do not appear to be normal stocks, commodities, bonds, bonds and other investment instruments. People are investing because they always see a future and with the dream of getting rich shortly. But unfortunately this is mostly not the case. Today’s conditions are not $ 0.01 levels of Bitcoin. The product you will invest in has an 11-year history and maturity. As such, people prefer to invest in other coins called altcoins in the crypto market. But the history of these assets is more limited. The more you invest in an immature asset, the greater your risk. It is necessary to determine the strategy well between these 2 investment tools (Bitcoin and altcoins).
Bitcoin under current conditions
It seems that it is time for the end of paper money domination due to Kovid 19. The world is going digital. Now the first question that comes to mind will be the world currency Bitcoin? The answer is absolutely no. It will be a digital currency controlled by the states. But pricing seems inevitable as this will highlight Bitcoin. It can be said that we have technically and basically finished the big bear season.
What happens next?
We have been in a continuous downward trend since 2018. I think all the necessary conditions have occurred. While preparing this article, the price is around $ 6,600. I think that the bullish trend that will start from here will increase the price of Bitcoin to $ 20,000 and higher.