Bitcoin Price Falls Below 200-Week Moving Average, Says Peter Schiff “Still Time to Sell”
On Saturday (August 20), BTC-USD is trading below $22,927, which is the closely watched 200-week moving average (200WMA).
According to data from TradingView, on crypto exchange Bitstamp, BTC-USD is currently (as of 10:10 UTC on August 20) trading around $21,158, down 2.43% in the last 24-hour period. As you can see from the five-day price chart below, the $BTC price dropped below the 200WMA around 12:20 UTC on August 19.
Here are reactions from two a few popular cryptanalysts:
The fall in stocks and cryptocurrencies this week is likely due to the current “risk-off” sentiment which has resulted in the US Dollar Index (DXY) rising above 108 this week, its highest level since January 2002.
Earlier today, Bitcoin perma-bear Peter Schiff, who is CEO of Euro Pacific Capital, a full-service, registered broker/dealer specializing in foreign markets and securities, was over the fact that he had said on August 14 that he expected – based on his technical analysis – the $BTC price will fall below $10,000:
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