Bitcoin back over $12k as Chainlink corrects
Last Updated on 18 August 2020 by CryptoTips.eu
Two remarkable telltale signs in the CoinMarketCap top 10 today. Whereas the Bitcoin price goes over $12,000 and then some, Chainlink seems to have fallen prey to profit taking. Could Bitcoin Cash therefore take back the fifth place on the list once again?
Push to $15k?
Analysts are wondering whether Bitcoin can hold the level over $12,000 this time round. If it does, then the next stop could be round the $15,000 price level according to some well known technical consultants.
Darius Sit, managing partner of Singapore-based QCP Capital, stated:
Bitcoin has been trading in a $11,000-$12,000 range for two weeks or so.
It has been consolidating, threatening to break past $12,000, so this is not too surprising.
Bitcoin Price Breaks $12K, but Is It the Final Hurdle Before $15K? https://t.co/YUJGOc7kYV
— CryptoGuru (@DarkNodeGuru) August 18, 2020
Problem is that indicators show that the volume behind this latest push might not be enough to carry Bitcoin over the threshold and keep it above $12,000. Then again, analysts have been predicting a fall below $10k for a while as well, so you never know.
Bullish #Bitcoin ?#BTC leads the market after it surpassed $12k with a 3.45% gain in the last 24hrs along with #YFI token & #Waves ?
— Coinpedia - Fintech News (@CoinpediaNews) August 18, 2020
Will BTC break the next resistance level at $12.5k? ?
Click to read ?https://t.co/B6iAntWCa6 @iearnfinance #Crypto #cryptocurrency pic.twitter.com/SHnPzLAOXh
Recent reporting on Bitcoin has been positive worldwide and the report from Tradingview that Bitcoin and Tesla were the most popular investments in the US thus far is certainly a remarkable sign.
Chainlink correction?
Further down in the top 10 on CoinMarketCap we see Chainlink that seems to fall prey to profit taking as the DeFi coin tanks some 10% to a level around $17.
At some point sentiment does matter, $link is due for correction. Many comfy with big bags from .50 - 8 USD, stay comfy imo. Nulinkers: have a plan in place. Long term moon mission either way. Until staking this is speculation driven and that is just real. pic.twitter.com/wAhworrowZ
— chainlinkrapper ?? (@ChainlinkRapper) August 18, 2020
Knowing that a month ago it still traded at around $8, (we told you it broke the $10 around the beginning of this month only) this is of course a healthy retrace. Some people on Twitter are already wondering whether this is the start of a correction.
Chainlink Just Flash Crashed 20%: Here’s What’s Next For LINK #crypto #link https://t.co/t9SMcnQxOF
— Dr William McKibbin (@McKibbinUSA) August 18, 2020
Other reports indicate that earlier in the day, Chainlink suffered a 20% flash crash.
