Bitcoin price is in a downtrend, after spending nearly a full year in a parabolic uptrend. An indicator bearing the “parabolic” name on monthly timeframes has given a signal, that according to past instances, has always resulted in a catastrophic fall in the top cryptocurrency by market cap.
Even if the resulting selloff ends up being the weakest ever following such a signal, it still could put Bitcoin at risk of a plunge to below $20,000 per » Read more
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin. Here’s why.
Remembering The Now Broken Bitcoin Uptrend Through Now
2020 was the perfect storm for Bitcoin and the rest of crypto. Talk of inflation, a supply shock, and nations in turmoil caused investors to flock with the scarce and innovative emerging assets.
Institutions, hedge funds, and even corporations began to pay attention to Bitcoin, and the greater crypto market began to boom due to Ethereum, DeFi, NFTs, and Dogecoin.
Related Reading | Bitcoin Bulls Bring Out Hammer Of Thor Reversal, But Support Must Hold
More big names have been drawn to the space than ever before, and Bitcoin is now in the portfolios of the wealthy around the world. The scramble to buy BTC before everyone else sent the price per » Read more