Bitcoin has plenty of obstacles to weather in the current macro storm as two-year weekly close lows remain inches away.
Bitcoin price action could include a fresh trip to $20,500, but beyond that, the overall trend remains firmly down for traders.
Cryptocurrencies spur financial inclusion, protect against inflation and enhance the global economy despite the recession.
Tune out the noise and focus on the signal. 5 important BTC price indicators are in multi-year “buy zones.”
Those who bought BTC between six and 18 months ago are losing out big, says the research, but now there is even more reason to buy their supply.
Equities markets have extended their decline, but Bitcoin and select altcoins have not given up much ground, leading some traders to believe that the bottom is in.
Classic volatility accompanies the final hours of the month, with $20,000 representing the battleground between bulls and bears.
BTC price levels as high as $20,500 could make an appearance on the day, but the outcome will be to the downside, fresh analysis concludes.
Bitcoin mining raises a “set of red flags for any consideration as a sustainable sector,” according to researchers.
“We’re all kind of watching this and seeing what’s going to happen,” said WisdomTree’s Will Peck on spot Bitcoin exchange-traded funds in the United States.