Crypto Market Hasn’t Bottomed Yet, Analyst Says – More Pain Ahead?
Notable crypto market analyst Willy Woo has just issued an appraisal on Bitcoin’s performance in the coming months or maybe year. His analysis shows that the coin has not bottomed out yet. On Twitter, he said: “In terms of max pain, the market has not felt the same pain as prior bottoms. We can see this in the blue line (supply in profit by @glassnode). We have only reached 52% of coins being underwater so far. Prior bottoms were 61%, 64%, 57%,” Woo said on his recent tweet detailing his analysis.” Crypto Market And Its Correlation With Stocks Bitcoin is highly associated with....
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Bitcoin has been in a notable state of flux recently after recovering from the crash below $60,000 and establishing support above $61,000. However, with the pioneer cryptocurrency failing to completely beat important resistance points such as $63,500, bearish sentiment continues to dominate the market. Amid this, one crypto analyst has predicted that the Bitcoin crash is far from over, forecasting much lower figures than anticipated. Crypto Analyst Calls Out Possible Bitcoin Crash To $35,000 In a new analysis of the Bitcoin price, crypto analyst Alan Santana has predicted a possible price....
Ethereum has completed one of its most significant milestone with the successful completion of “The Merge”, the migration to a Proof-of-Stake (PoS) consensus. Market participants were expecting an aggressive price action during this event, but the results might be disappointing. And we finalized! Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today. — vitalik.eth (@VitalikButerin) September 15, 2022 Related Reading: Crypto Market Hasn’t Bottomed Yet, Analyst Says – More Pain Ahead? At the time of writing,....
Recently, the market has seen a strong correction due to the Bitcoin price bull run of the past several days. On December 7, 2020, the price hit a low of $19,030.09, which is considered to be a new all-time low. However, the appearance of a double bottom pattern has led to an optimistic outlook on this correction. Bitcoin can rebound, as is now more evident. Obviously, there will be some challenges along the way. The Bitcoin price present momentum is one of the cryptocurrency’s major challenges. The current momentum is merely reversing the past downward trends, thus it may not be....
Following the Terra LUNA network collapse back in 2022, the price of Ethereum followed the general market downtrend. As a result of this, the ETH price had fallen to a new cycle low of $900, before recovering once more. However, now that the altcoin is still deep in the throes of the bear market, questions have arisen once more about the chances of the price returning to its 2022 lows. Crypto Analyst Says Ethereum Could Drop To $900 In an analysis posted on TradingView, crypto analyst FieryTrading presents a scenario in which the price of Ethereum could fall back toward its 2022 lows. The....
Bitcoin (BTC) is at risk of extending its ongoing downside correction as it breaks below a so-called “legacy trendline.” As spotted by an independent, pseudonymous chart analyst, the said trendline was acting as a support to Bitcoin since March 2020. On September 30, the BTC/USD exchange rate fell below the price floor and flipped the Ascending Trendline into resistance. The pair lately tested it twice for an upside breakout, but with no success. The TradingView […]