Bitcoin prices decreased 80% last year, while other major crypto currencies declined by 99%. It is expected that the Crypto Coins 2019 will start a new beginning.
The leading crypto money analyst, recently, had predicted some bitcoin with shared tweets.
Due to successful estimates of the woo, it would be appropriate to say the Kottokon priest W. Analyst suggested that last bitcoin will be reduced to $ 5,500 in the third or fourth quarter in May last year. At that time, bitcoin was trading $ 7,500 and realized the stated price target. Wu also gave the voice of $ 3,000 to $ 4,000 last year, based on its own NVT method, achieved high success rates in many of its estimates. With this effect, he is currently an influential and popular person on social media.
In the last comment, Wu said that the transaction volume on the chain needed to increase the price is very low. He predicted that bitcoin would go below $ 6,000 at the end of May, and suggested that higher volatility in recent weeks could increase the transaction volume.
Decrease volume of $ 6,000 to $ 3,000 does not imply accumulation
Market evaluation of the situation, Wu wrote:
The first volume increase in Deir is a false indication that we are coming to the end of the bear market. As a result of higher volatility, the price has come down from $ 6,000 to $ 3,000, which has made a significant trade volume, but this does not mean the sign of volume accumulation.
He used the following statements in this tweet on the subject:
Although Yok makes technical indicators a bull movement possible, there is not enough transaction volume to support such a movement. The increase in the trading volume seen in the last 7 weeks has been due to volatility
Continuing to understand value movements, Wu said that its self-developed NVT ratio (Network's daily trading volume market value) is currently over. According to Woo, this means that the value of transactions on the chain is significantly lower than the value of the network.
The bear market will last till the second half of 2019
The NPV ratio is used to estimate the true value of the crypto coin. Rate helps the investors to decide when the value of bitcoin and other crypto coins is very low or very low.
On the recent rise in the volume of transactions in response to higher volatility, Air commented that the increase was limited and the bear would win in the long run.
In November 2018, Woo predicted that the downward trend will continue for the second half of 2019. He based his forecast on the NVTS data, which fell below the support level. Woo also claimed that last year BTC prices could not break with a 200-day moving average.
In November 2018, Wu also made the following comment:
If the price increases from this point in the short term, which is completely possible, I think this movement will be the top band of the 200-day moving average. It's about $ 7,000 right now. If it goes above a 200-day average, keep in mind that this is a reliable indicator of Bull's transition in beetown's 8-year trade history. However, now it is very early to get out of the bear and it is difficult to break $ 7,000 under these conditions
Betocon is currently around $ 3,850. Total capital of the crypto money market is $ 132 billion.
→ Chinese analysts: Bikano will not be able to come back this year