Bitcoin analysis for 13/11/2018

According to a recent survey by the British research company YouGov, the vast majority of Britons – 93 percent – have heard of Bitcoin, but only 4 percent say they bought it. The results of a poll conducted this month show that nine out of ten Britons have heard of Bitcoin, but they do not understand it. Only 4 percent. the respondents claimed to understand Bitcoin “very well”, while 23 percent he says “quite well”, with men answering this answer almost three times more often than women. The younger Brits prevail among those who claimed to understand Bitcoin, the report said.

In terms of actual investments in Bitcoin, younger citizens are also in the first place. One in eleven (9 percent) of Britons aged 18 to 24 bought Bitcoin, compared to one in a hundred people over the age of 55. Overall, only 4 percent of respondents bought Bitcoin.

In addition, a significant number of young people, 36 percent of respondents aged 18 to 24, say they personally know someone who bought Bitcoin earlier.

The German consumer centers of the two shires, Hesse and Saxony, recently conducted a similar survey. Of the 1,000 Germans aged between 18 and 39, 55 percent claimed to have heard of crypto accounts before. What’s more, 28 percent of respondents from 18 to 29 years considered buying cryptocurrency as “possible”.

Let’s now take a look at the Bitcoin technical picture at the H4 time frame. The market has made a new local low at the level of $6,200 and is currently trading below the weekly pivot located at the level of $6,323. The downward momentum is still strong and negative, so the short-term outlook is still to the downside. The next technical support is located at the level of $6,173 – $6, 162, but it is worth to mention, that the longer-term technical support and the consolidation zone support is still seen at the level of $6,027.

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