Is Bitcoin Gonna See Another Big Drop Soon? Historical Trend May Say Yes
Historical trend of the 200-day and 600-day MAs may suggest Bitcoin could observe another big drop in the near future. Current Bitcoin Pattern Has Historically Lead To A Big Drop In The Price As pointed out by an analyst in a CryptoQuant post, the current Bitcoin price looks to be squeezed between the 200-day and 600-day MA curves. A “moving average” (or MA in short) is an analytical tool that averages the price of Bitcoin over any desired range. As its name suggests, this average constantly updates itself as each day passes by and new prices are observed. The main benefit of....
Related News
Charts show the Bitcoin price seems to be falling below the 600-day moving average, a sign that could be bearish for the crypto. Bitcoin Begins To Lose 600-Day MA Support Line As Price Crashes Below $39k Again As pointed out by an analyst in a CryptoQuant post, the price of the crypto is crossing below the 600-day MA curve now, a line that has served as support for BTC in the past. A “moving average” (or MA in short) is an analytical tool that takes the average of any quantity over a particular time period. As the name already suggests, this average constantly updates itself as....
Bitcoin is dead, is going to die, and more are not unheard of comments. The cryptocurrency being bad for the environment, the economy, even being called rat poison isn’t anything new. But “we’re all gonna die” if the emerging technology succeeds is definitely a new one, and completely out of left field. The comment comes […]
The powerful growth of Bitcoin’s price was followed by a sharp drop. That downward trend was natural. What explains the current drop? It was mentioned earlier that Bitcoin’s price has reached an important long-term resistance line. A new direction is usually chosen in such points, or, alternatively, an old trend continues with more power, but only after a rebound. What that means, is that there was a good chance for a drop, and it happened. The last confirmation was the disruption of the structure of the upward trend, a point where the drop finally took place. So far this short-term trend....
“So we are gonna drop the lawsuit, 100% and I'm sorry this became public,” said Ben Armstrong. Ben Armstrong, the man behind Bitboy Crypto said that he is dropping the defamation suit against fellow Youtube content creator Erling Mengshoel Jr., who goes by the name Atozy.Armstrong officially filed the suit against Mengshoel Jr. on Aug. 12 in response to a Nov 2021 video titled “This YouTuber scams his fans… Bitboy Crypto” which alleged that Armstrong was dishonestly promoting dubious assets to his audience such as PAMP for his own gain. He was seeking $75,000 in damages over the ordeal.....
It’s been quite a bearish week for Bitcoin, as the crypto has fallen around 3% since the beginning of the week. Price action, in particular, has had Bitcoin struggling to break above $27,000, indicating a potential risk of more losses below this resistance level in the near term. However, according to a crypto analyst, this current retracement might be the beginning of a historical Bitcoin cycle before each halving. Analyst Shows Bitcoin Price Correction Based On Historical Trends Crypto analyst Rekt Capital has said in a post that if historical Bitcoin “halving cycles”....