The crypto money market declined after Donald Trump’s tariff statements. Bitcoin price decreased from 88 thousand dollars to 82 thousand dollars. Ethereum lost more value. In this negative market environment, an experienced crypto currency analyst leader Altcoin Ethereum says that Bitcoin will experience a major depreciation.
Analyst: Leader Altcoin is going to collapse against Bitcoin!
Kriptokoin.comAs you have followed, the crypto currency market continues to lose blood. Bitcoin and many leading Altcoin witnesses sharp price decreases. Experienced analyst Ali Martinez, experienced in this market environment, says Ethereum has created a ‘bear model’ against Bitcoin in a monthly graph. According to Martinez, Ethereum against Bitcoin may drop by 91 %from the current level.
Based on the inverse graph of ETH/BTC parity, the analyst argues that the parity creates a dual peak model or M model in the monthly time period. The dual hill model is a reversal turning bear model. “In this respect, the ETH/BTC trading parity may be going to 0,0020 BTC!” says. Meanwhile, Ethereum is traded at 0.02205 BTC ($ 1,866) during the article.
Source: Ali MartinezWhales sell ETH and Ethereum whale activities are decreasing!
Ali Martinez, referring to the data received from the crypto analysis platform centimeter, says Ethereum whales sell approximately $ 1.42 billion worth $ 760,000 ETH in the last two weeks.
Source: Ali MartinezThe crypto analyst also states that the whale activity in the Ethereum network has fallen in the last five weeks. In this context, the analyst, “the number of large Ethereum transactions since February 25 has decreased by 63.8 %, which points to a decrease in whale activity in the network.” says.
Source: Ali MartinezWhat’s on the cards for Bitcoin?
Returning to Bitcoin, Ali Martinez says that the leading crypto currency has recently fell under the 200 -day and 50 -day moving averages (MA), and that the two -moving average moves as resistance levels. According to the analyst’s graph, he argues that Bitcoin is on the verge of creating a ‘Death Cross’, an indicator of a decline in the 200 -day and 500 -day moving averages. In this respect, the analyst makes the following statement:
Bitcoin is facing the next important resistance with the 200 -day MA at $ 86,200 and a 50 -day MA in $ 88,300! The rise above these levels can return my momentum to the bulls.
Source: Ali Martinez
