Bitcoin In Danger? Analyst Fears BTC Resistance Could Trigger A Downward Spiral

Data shows the prices of Bitcoin mining rigs have been going down for a while now as profitability for miners has been observing a shrink. Cost Of Bitcoin Mining Rigs Has Been On A Downward Spiral Recently As per the latest weekly report from Arcane Research, BTC mining rigs are now at their lowest cost […]

The analytics provider Ecoinometrics has published a tweetstorm that shows the current downward spiral from bitcoin’s all-time high is one of “the longest drawdowns bitcoin has had to deal with during a post-halving bull market.” Furthermore, the same day, analyst and economist, Julio Moreno, highlighted in a recent blog post that “in bitcoin, volatility is your friend.” Analyst Discusses Bitcoin’s Second Longest Drawdown Before the Next Price Move Most people in the industry understand that bitcoin (BTC) prices have seen better days and many spectators....

The crypto-economy has been sliding in value this week and during the last 24 hours, it has lost 2.5% dropping to $2.3 trillion. The leading crypto asset bitcoin has slid 4.8% during the last seven days and ethereum has dropped 11.7% last week. The downward spiral has cryptocurrency advocates questioning whether or not the bull run is over and if the bear market has begun. Bears Continue to Claw the Crypto Economy Down Following all-time price highs on November 10, the crypto asset economy has shed an enormous amount of value and continues to sink lower every few days. After reaching $69K....

Solana (SOL) was one of the large-cap assets affected by the recent market downturn triggered by the US Federal Reserve’s rate cut. The Solana price succumbed to the bearish pressure and fell beneath $200 for the first time in over a month. While the price of SOL has continued its downward spiral in the past day, a prominent crypto analyst on X believes that the altcoin might be gearing for a rebound already. Below is how the Solana price could course-correct and resume its bullish trend. Can SOL Price Reclaim $200 Again? In a post on the X platform, crypto pundit Ali Martinez shared an....

Bitcoin has been on a winning streak for the better part of October and the multiple surges since then have pushed the price above $35,000 before correcting back downward. Even now, Bitcoin continues to show strength but not everyone is convinced that this winning streak will continue. One of these is a crypto analyst who has maintained that the price of Bitcoin will be headed back downward with an immense drop in price to crown the rally. Seeing Bitcoin At $8,000 The crypto analyst who goes by holeyprofit first posted their analysis of Bitcoin on TradingView on October 22, right at the....