Bitcoin rate falls to 900 euros

After a sharp climb to over one thousand euros per bitcoin, the price fell to 834, 35 EUR (878, 99 USD). Is this price drop just a break or the end of the month-long uptrend?

After two tests of the Resistance at 1100 EUR (1159 USD) came as it would have had to come anyway: The course fell. And like: Within an hour he fell from 1031, 54 EUR (1086, 73) to 835, 35 EUR (878, 99 USD). The price has been able to recover a bit since then: it is now again at 921, 04 EUR (970, 31 USD).

Apparently, some bagholders have brought their lambs dry - who wants to blame them? In addition, the yuan currently appears to gain some value. This of course had its influence on the bitcoin price, the increase in recent months is due to the use of Bitcoin as a security.

Well, is that the end? I am at least not ready to see the end here, in any case the bulls are still fighting. Ultimately, it is a matter of consolidation - after all, bulls want to drive the price up, but also profit from this investment.

It will be interesting to see how it goes on. As the financial situation in India, Russia and Venezuela continues to be tense and as more and more people discover Bitcoin as a financial investment, I do not see the big crash coming.

BTC ECHO