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Bitcoin {BTC} price prediction 2019; Peter Schiff warns investors of incoming dump


In accordance with the candlestick chart connected to the BTC/USD pair on tradingview [based on data obtained from the Bitstamp Exchange], sellers are back at the helm for now. The daily RSI [for 14 periods] dropped to reach 49.35. This signifies Bitcoin’s decline in the neutral zone and indicates that the #1 digital asset may enter oversold territory by the following week.

The MACD line ventured south of the signal line today, which resulted in the histogram switching sides and changing color [from green to red]. Except in the case of 6th November, the peaks tied to the Awesome Oscillator have possessed the brown shade for the past one-and-a-half weeks. The initial level of resistance at $9952.48 is yet to be tested, and support can be found adjacent to the $8671.6 which might be broken shortly.

Peter is a prominent gold enthusiast. He believes that this precious metal shall never go out of style. Mr. Schiff looks at Bitcoin as an enormous bubble [similar to the DotCom Bubble which popped around 2 decades ago]. He was recently interviewed by Anthony Pompliano [for OffTheChain].

Bitcoin is the top-ranked cryptocurrency in the market which was established over a decade ago. The trading volume recorded stands at approximately $24.034 billion, whereas the supply has 18,036,862 BTC coins involved as part of circulation. The total market cap of Bitcoin amounts to $160.028 billion as of this instant. The price dipped at a rate of 3.87% in the course of the past 24-hours; this, in turn, contributed to BTC falling all the way down towards the $8872.3 mark where it currently rests.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.