Analytics / Forex and Crypto News
Over the past few weeks, the Bitcoin market has been very overheated due to a sharp rise of the price of the assets. In an interview with Forbes on May 29, 2017 (published on the evening of May 30)Brave New Coin analyst and trader Josh Olszewicz said he expects Bitcoin to roll back.
“Now it has come to the point that if we do not retreat, the rollback will ultimately be very difficult,” said Olshevich. "There is no other good reason for a pullback, except for the fact that we should have already retreated." The trader mentioned that people are often nervous when large corrections occur (even during an uptrend), although such kickbacks are simply part of the market.
In general, according to Olszewicz, regardless of how the price is adjusted in the short term, he believes that we are in a bull market now. “Anything above $6,400 is certainly a bullish trend. Anything above 200 EMA (exponential moving averages) on all coins is definitely a new bullish trend. All with a bullish intersection of 50/200 MA on the daily chart is a bullish trend,”he said.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov