We’re watching the market trends and charts and it appears that Bitcoin may be on the precipice of another fall. For those who want to invest long-term, this might be a great opportunity. Let’s review what’s happening.
Bitcoin is now trading below the $8,000 level and the digital currency is struggling to rise towards the top of the descending channel. However, observing the weekly chart of BTC/USD we can see that it took over a year for the price to rally, however, it took only a few hours to hit bottom. So, it takes a lot of time to build the confidence needed to help the price rally but it does not take much for the price to crash.