Bitcoin Price Tracker: ‘Back To Short Term Bearish’

Bitcoin Price Tracker: ‘Back To Short Term Bearish’

Bitcoin.com is back again with the World Crypto Network video broadcast and technical scrutiny. With host Theo Goodman, guest experts George Samman and Tone Vays, giving you Bitcoin’s price a play-by-play analysis. As well as the examined price movements within the digital currency’s value there has also been much discussion concerning development. This week former Bitcoin Developer Mike Hearn has called the virtual money a “failure. So we have decided to include The Bitcoin Group #84 video called “Mike Hearn Tries To Kill Bitcoin” with conversation from Blake Anderson, Thomas Hunt, and Theo Goodman concerning the announcement.

Also read: Politicians & Banks Helped Bitcoin Beat All Sovereign Currencies in 2015

157562003At press time, the price of Bitcoin currently sits at roughly $380 USD per coin following Friday’s sharp drop. In this week’s analysis with George Samman and Tone Vays, the World Crypto Network discuss Bitcoin price volatility. Samman starts the show saying he’s getting “ a little more cautious” towards the value being bullish. Over the charts, Samman sees many signs of the price dipping and believes we could see more of a “correction.” The expert notices that the price over the chart has somewhat reflected the timing of the block size debate during the day. Samman also discusses the overall markets during the week with of course quite a bit of focus on China and the Shanghai composite index.

Tone Vays, head of research at Brave New Coin, also discusses Bitcoin’s price volatility this week and also some concentration on China. He expected the country to be a world economic leader but says:

“If they keep manipulating their markets, it’s just terrible, they really need to trust in the free market.”

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Vays then gets into his analysis of the Bitcoin price via Brave New Coin’s Liquid Index and explains how last week’s little spike that forced him to go “short term bearish to short-term neutral,” though at this point he wants to clarify that “he is pretty bullish on Bitcoin overall.” However, for the time being, the charts suggest it is overpriced, and he’s back to “short term bearish.”

Both experts give a detailed analysis of the price as well as the global economy’s markets. Check out the video to get a more in-depth look at the Bitcoin price and how it’s doing this week. As said above we’ve added a bonus video below from the World Crypto Network that discusses the Mike Hearn announcement as well.

Where do you think about the price is going? Has Hearn’s announcement made you bearish? Let us know in the comments below. 


Images courtesy of Crypto-graphics.com and Pixbay