Buy bitcoin with credit card

You send
Get money

How to Predict Cryptocurrency Price?

How to forecast Cryptocurrency Price
It is not difficult to understand what will happen to Bitcoin in the near future. This is often used by investors, selling cryptocurrency on favorable terms, tens of times more expensive. People who make money in this way follow certain principles, and experts will tell which ones.

According to Anton Kravchenko, CEO of Xena Financial Systems, the main rule in this situation is not to go against the trend. After all, it passes slowly, without sharp jumps. And you can track its movement using wallets, financial transactions, and the cost of cryptocurrency. This information will allow you to understand what prevails on the market at the moment - supply or demand.

Also, do not ignore the "zones" of support or resistance of bitcoin, which are located around certain prices. For example, around the cost of 12,500-13,000 dollars.

Analyst Vladislav Antonov recommends using technical analysis to help predict events. Its circuit includes elements such as symmetrical triangle, pennant, Fibonacci tools, and more. Using the tools, it is easy to determine how the impulse wavelength has changed (it is enough to simply compare it with the previous one).

By constantly analyzing an asset with the same instruments, the trader will receive statistical data, thanks to which the Fibonacci ratios can be useful in the future, when the situation begins to repeat itself.

But no one is able to accurately predict at what level the asset will stop and when the trend will end. Technical analysis does provide several prerequisites for predicting the turn: divergences, price, candlestick patterns, etc.

A good trader will not go all-out trying to go against the trend. He will choose a different strategy - he will try to predict in detail the movement and potential reversal. The transition to another price level has certain signals. Not everyone is able to see them, otherwise all owners of the cryptocurrency would have remained in the black.

What do other experts recommend?

But Maxim Keidun, CEO of Hodlhodl, has a different opinion about forecasting. The expert considers this to be an unprofitable business that does not justify the effort invested, since the bitcoin market is full of surprises. Therefore, well-known analytical techniques are useless. In return, he offers to trust the DCA strategy, entering the market gradually and with a small amount of money. Then there will be no sense in the forecast.

Tatiana Maksimenko, a representative of the Garantex exchange, confirms that there is no universal strategy capable of accurately determining the rate movement. Even experts in their field are often mistaken here. According to the expert, for the most accurate forecast, it is necessary to study in detail the asset, as well as where it moved in the past, why it began to grow or fall.

It should be borne in mind that the bitcoin market is indeed filled with surprises, and the movement of the course depends entirely on the behavior of investors. For example, at one time they have the feeling that a certain update will provoke a leap, and at another, with a similar event, people on the exchange will be inactive. Fortunately, now there are algorithmic solutions that can quickly process a large amount of information. They are used to determine the actions of investors. The program compares the data of social networks, news feeds with the trading results, after which it issues its own forecast. But he is also deprived of a 100% guarantee.

In general, in the cryptocurrency market there is no complete certainty that everything will go well. Some traders think it's even more interesting this way. Therefore, everyone has the right to rely on their feelings or analytics of specialists.

go to articles list