Bitcoin’s Decline Below $20,000 Proves The Bottom Is Not In
Bitcoin was tethering above $20,000 for the last week, and its ability to hold above this level through the FOMC announcement had led to speculations that the digital asset had finally hit its bottom. However, recent developments and bitcoin’s fall below $20,000 has proven that this is not the case. Even more, it points to a further decline in the market that could drag the cryptocurrency to even lower lows. Bottom Is Not In Bitcoin is now trading in the $19,000 which has completely destroyed the expectation that the bottom was already marked at $20,000. Despite the digital asset largely....
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Bitcoin was able to hold the $20,000 through times with expected volatility, triggering speculations that the digital asset had finally reached its bottom. However, recent developments in the crypto market proved that the cryptocurrency had indeed not reached its bottom, declining lower than the previous cycle low. What Triggered The Decline One thing that bitcoin […]
Predicting the bitcoin bottom is something that is done with much fervor by investors in the space since it often means more profit if they can accurately catch the bottom. It often proves to be a difficult task but using blockchain metrics can provide some guidance. Presently, these blockchain metrics have fallen to new lows, […]
Bitcoin. The bottom. Are we there yet? Several higher timeframe metrics suggest BTC’s real bottom will be somewhere around $10,000. Bear markets have historically been challenging to navigate for traders and the conventional set of "reliable" indicators that determine good entry points are unable to predict how long a crypto winter might last.Bitcoin’s (BTC) recent recovery back above the psychologically important price level of $20,000 was a sign to many traders that the bottom was in, but a deeper dive into the data suggests that the short-term relief rally might not be enough proof of a....
An upward trend continues to form on Bitcoin. Disruption of the structure of that trend could provoke a new fall. Was there a turn to growth? Bitcoin’s price has been bouncing off the bottom limit of the flat, which indicated that the bears were holding the advantage. But the later fortification and the lack of a return towards the bottom border of the flat has shown that the medium-term bulls have seized the advantage and are now making new deals in hope of a continuation of the upward trend. There was no clear turnaround wave. A new break through the limit of $450.5 could provoke a new....
Bitcoin continues to struggle with regaining its upward momentum after dropping from the $62,800 level about a week ago, fueling speculations of an imminent further decline. However, Bitfinex, a leading Hong Kong-based cryptocurrency exchange, in a recent analysis report has predicted that Bitcoin could be nearing a potential local bottom, suggesting that its recent decline […]