Fundstrat Global Advisors analyst Robert Sluymer (Robert Sluymer) said that the stock market may re-test the lows of the fourth quarter. While stronger at risk are small crypto-currencies, he added.
“The price structure for most cryptocurrencies is still weak and seems vulnerable for the expected breakout to lower lows,” wrote the analyst in a note.
Insights analyst Fundstrat based on the indicator of growth/decline for 250 altcoins with small market capitalization, which “runs the risk to break to new lows”.
According to Sluimer, while Fundstrat ceased to specify price points for bitcoin in certain terms, the key level to monitor is the first cryptocurrency is $3100.
“A break below the lows of the fourth quarter at $3100 will mean a reduction of up to $2270, while the need to move above $4200 in order to show that bitcoin is starting to improve,” — said Sluymer.
Earlier, analysts Fundstrat Global Advisors came to the conclusion that the price of bitcoin may reach to the end of 2019 of $64 thousand, but the most likely level of — $36 thousand per coin.
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