Bitcoin Bottoms: The Psychology Of Bear Markets
The chase for the bitcoin bottom is still on since the digital asset fell below its $20,000 price level. Given that the bear market has not been long in the making, it stands to reason that the bull market isn’t here just yet. However, being able to pinpoint when the cryptocurrency has reached as low as it will go can help make smart investment choices and the previous bear trends can shine a light to how it might play out. Previous Bitcoin Bear Markets The most recent bitcoin bear markets point towards some important trends that may occur before a bitcoin bottom is established. The 2018....
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It may be a case of "so near yet so far" when it comes to June's multi-year low being the next BTC price floor, warns Willy Woo. Bitcoin's (BTC) market behavior is not yet “synonymous” with previous bear market bottoms, one of the leading crypto analysts argues.In a Twitter thread on Sept. 14, statistician Willy Woo, creator of data resource Woobull, offered three examples of why BTC/USD should still have further to fall.Despite many calling a new macro price bottom during June’s trip to $17,600, not everyone is confident that Bitcoin will avoid a retest.For Woo, there is still reason to....
Finder’s panel has always shared thoughts regarding bitcoin and where they see the price going over the next months, and even years to come. In the last year, there have been some bullish predictions from the panels, but as time has gone on, these experts have begun to adjust their predictions to fit the current market. The most recent of these panels have revealed their thoughts on the digital asset and it is adjusted even lower. 11% Growth By Year-End The Finder’s panel shared their thoughts on where they believe the price of the digital asset will be ending up. According to them, they....
The fundamentals accompanying the previous Bitcoin bear markets are entirely different from 2022, however, putting the BTC price recovery at risk. Bitcoin (BTC) has been consolidating inside the $18,000–$20,000 price range since mid-June, pausing a strong bear market that began after the price peaked at $69,000 in November 2021.Many analysts have looked at Bitcoin’s sideways trend as a sign of a potential market bottom, drawing comparisons from the cryptocurrency’s previous bear markets that show similar price behaviors preceding sharp bullish reversals.Here are three strikingly similar....
Psychology and selling pressures have kept bitcoin's price below $20,000.
On-chain data shows the Bitcoin supply in loss is still around 48%, which is lesser than the values observed during past bear market bottoms. About 52% Of The Total Bitcoin Supply Is In Profit At The Moment As pointed out by an analyst in a CryptoQuant post, BTC may see further decline before a bottom […]