Bitcoin's Trend May Have Reversed: The Price Has Bought, But There's a Problem!

Although the latest data indicates that Bitcoin has started to fight against the incoming sales, the analyst calls for taking profits.

Germany, USA and Mt. Bitcoin, which fell to $ 53,500 amid Gox's selling pressure, is no longer affected by the sales that much.

Germany, which carries Bitcoin again after transferring 5,853 BTC today, did not cause a selling pressure on the price. This indicates that the Bitcoin price will no longer be greatly affected by future sales.

In parallel with the situation in question, BRN analyst Ventin Fournier made the following statements in an e-mail sent to CoinDesk:

Market, Mt. He seems to be getting more used to the outburst from Gox and the German government. Spot Bitcoin ETFs are now seeing strong inflows, indicating signs of a trend reversal. This is supported by the fact that the oversold level we highlighted a few days ago is seen as an opportunity by investors.

Stating that they do not expect an interest rate cut from the USA until September, the analyst said that they continue to expect positive inflation data on Thursday.

Stating that a hawkish stance taken by the US Federal Reserve (FED) and the country may continue to put pressure on prices, the analyst stated that there may be a shocking process towards the end of the week, so profit should be taken.

The BRN analyst also said that the macro outlook is quite good.

According to CoinGecko data, Bitcoin is trading at $58,480.

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