Bitcoin Market Analysis for June 11, 2018
Fellow Steemit Users, it’s always a good day in the crypto-space. Whether markets are up or down, a wise trader can always find a way to turn a profit! Sometimes it is all about finding arbitrage opportunities between various trading platforms, sometimes it is about anticipating a rise after a coin experiences a slump, and sometimes it is just about holding your coins and watching those values tick higher. Whatever your preferred method of trading, we here at Cryptonews 24/7 will strive to provide you with daily analysis of various markets to help you in your quest to acquire more wealth, no matter how much or how little capital you are starting with.
When analyzing cryptocurrencies, it is important to look at historical trends in addition to the current market trends. This expansive analysis can provide you with a better picture of where the market has been, and thus, where it might be trending towards next.
Here is what the 1-Month Chart is looking like:
Here is what the 5-Day Chart is looking like:
Here is what the 1-Day Chart is looking like:
As you can see, Bitcoin markets experienced a rather precipitous drop over the past 24 hours, following a slightly less precipitous drop the day before. This has brought Bitcoin value down from ~$7600 to ~$6700 over the past few days. The last time that Bitcoin experienced a drop like this was on May 21, and it was followed by a period of smaller swings across a $400 value block. Should that trend repeat itself then we could expect to see a few days of the Bitcoin markets consolidating around the $6700 value before there is another major move in the market.
We hope that you have found the above information useful, and we wish you the best in all of your endeavors.
Sincerely,
CryptoNews 24/7
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