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![]() ![]() The content of this website solely reflects the subjective and personal opinion of the authors. Risk warning and disclaimer: The contents of this website are intended solely for the entertainment and information of readers and do not provide investment advice or a recommendation within the context of the Securities Trading Act. hTtRAhVMMYįollow us on Facebook and Twitter and don’t miss any hot news anymore! Do you like our price indices? As of now, recent selling seems to be on par with prior bull market sell-offs, especially when comparing it to same periods around the halvings. CryptoKea uses a metric known as Bitcoin Days Destroyed to predict an upswing of the Bitcoin price.Ĥ/ If long-term hodlers would sell larger than usual portions of their holdings, the supply adj. The analyst establishes a relationship between the low trade volume of the whales with previous bull markets. On the contrary, CryptoKea is saying that Bitcoin is about to enter a bullish market as indicated by the movement of Bitcoin whales. However, there is no consensus among analysts. In the short term, the price could drop and stabilize around $6,400, according to some experts. However, a correction of the price of Bitcoin seems to be imminent as uncertainty over Coronavirus remains and moving average indicators are approaching a cross death scenario. The same trend can be seen in the graph, right at the beginning of 2020. As can be seen in the graph above during the months prior to its emergence, the short-term moving average rose above the long-term moving average, forming a “golden cross”. It was the beginning of a rebound in the price of the BTC that reached $14,000. Although analysts give significant weight to the death cross, in April 2019 its emergence indicated the opposite.
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