3 charts showing this Bitcoin price drop is unlike summer 2021
Bitcoin looks like a different planet this year, according to several popular on-chain metrics. Bitcoin (BTC) bear markets come in many shapes and sizes, but this one has given many reason to panic.BTC has been described as facing "a bear of historic proportions" in 2022, but just one year ago, a similar feeling of doom swept crypto markets as Bitcoin saw a 50% drawdown in weeks.Beyond price, however, 2022 on-chain data looks wildly different. Cointelegraph takes a look at three key metrics demonstrating how this Bitcoin bear market is not like the last.Hash rateEveryone remembers the....
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Data shows the Bitcoin spot trading volume has declined to lows not seen since the selloff in the summer of 2021. Bitcoin Trading Volume Sinks To Lowest Level Since Summer Selloff As per the latest weekly report from Arcane Research, the BTC spot volume has observed a significant drop off in the last week, taking […]
The price of Bitcoin has been somewhat stable lately with charts showing slight variances here and there over the past week. The anticipation for the upcoming halving event seems to have cryptocurrency supporters excited, while global economic events continue to show the world the benefits of the Bitcoin network. Price Charts Bode Well. The fiat value of....
Bitcoin price slammed down to support early today before embarking on a persistent rise that is now correcting. A directional move is imminent and today’s Fed rates announcement may be the watershed. Finally, we’re seeing compression in both the 15min and 1hr charts. The 1-day chart (not shown) is currently trading below its 20MA, but remains high above the critical 200MA. The combination of bearish bias in the 4hr and 1day charts, and the compression seen in the 1hr and 15min charts implies a move is imminent. One concern is that the structure of the past week’s price pattern is unusual.....
Bitcoin price correction started yesterday after we spotted a "Bearish engulfing" candlestick pattern on the 4 hour (BTC/USD) charts throughout yesterday's analysis. Price correction pulled the price all the way down to $390, but thereafter we started spotting signs that signaled cessation of the downside price correction attempt. Price Correction Slowing Down on 4 Hour Charts: By analyzing the 4 hour (BTC/USD) charts from Bitstamp; executing Bollinger Bands and keeping the 38.2%, 50% and 61.8% Fibonacci retracement levels we plotted during our analysis on the 2nd of November, we can....
Welcome back to another Bitcoin News in Review, where we feature some of the biggest stories of the week here on CryptoCoins News. This week, there was a drop in the Bitcoin price, Dogecoin's price continued to decline, Ecuador banned Bitcoin in favour of its own cryptocurrency, and more. Check out this week's Bitcoin News in Review after the break. Explaining Bitcoin's Recent Price Drop. The Bitcoin price fell below $600 this week. If you've been monitoring the Bitcoin price this week, you've probably noticed that it has dropped below $600 USD (currently at $588). While it's rarely....