The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
Bitcoin (BTC/USD): will the Italian elections trigger buy orders in the crypto space?
2019-11-11 • Updated
Bitcoin continues to move within a recovery that it has been holding since February 25, with prospects to continue forward, even though the price action is weakening from the level of 10,800. The outbreaks continue northward and the 200-hour moving average remains below the current price.
In the latest news in the crypto space, a bank in Liechtenstein has been open to the possibility of allowing investments in cryptocurrencies by its customers, thus becoming one of the few banks in the world to allow this type of investment. On the other hand, the UK central bank has announced that the institution will strengthen its measures to combat money laundering with cryptocurrency.
The Parabolic SAR is favoring that the price of the BTC remains under pressure, although the losses could be limited by the 200-hour moving average. The Fibonacci level of 50% in 8724 continues to be the line in the sand that allows limiting losses in the short term.
What do we expect?
According to our forecasts in the short-term, the BTC/USD pair has managed to gain momentum in the aforementioned moving average, which is allowing it to gather strength to visit the key barrier of 11619 in the coming days. We must remain cautious about the elections to be held this Sunday in Italy, as it could trigger a demand for cryptocurrency and thus be able to rebound towards the target of -23.6% in 12985.
The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
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