Bitcoin fell below $ 7,000, but the worst is already over for BTC
Sure Clem chambers is the head of ADVFN, a website dedicated to financial markets and founded in 1999. He conducted his own research to reveal how people relate to the first cryptocurrency.
The expert examined data on search queries in Google Trends and compared the volume of searches for “Bitcoin” searches “, “trump”, “Taylor swift” and “stock market” for the last year, and came to the conclusion that the world is fascinated with bitcoin.
“Bitcoin has a huge brand. For some reason the world is fascinated by them,” said chambers.
Chambers notes that if interest in the stock market goes up when stock prices fall, then the bitcoin the opposite is true. If the price of bitcoin grows, increase the volume and search.
Most asked for the word “bitcoin” in December, when the price of BTC was at its peak. The analysis of the last four months showed that in this period, there was a correlation of search queries after the price of the asset.
The chambers still hopes to buy bitcoins at a lower price.
“I still hope that the price will fall below $ 5,000, but this is unlikely. In a “trade war” trump and currency devaluation in China, it seems unlikely that bitcoin as a negotiable asset in dollar terms has lost its appeal. The current “problem in the middle East” will support races of bitcoin, so it is likely that we have seen the lows of the crash… I’m buying bitcoin at these levels and will do it further. If bitcoin collapses, I’ll be loaded,” wrote chambers.
At the time of writing the bitcoin fell back below $ 7,000. The day he lost 0,88% in value and is now trading at a price of 6 $ 995. Also, there are more pessimistic forecasts on the rate of BTC. So, Goldman Sachs analysts said that bitcoin will not reach the previous price highs.