The main Crypto researcher at 10x Research Bitcoin does not exclude the price procedures for 2024, as it spent the majority of the year in the merger after reaching its levels early.
“Very possible”, Marcus Thynin told CointeleGRAPH when asked about Bitcoin’s chances (BTC) that repeats similar market movement until 2024. In March 2024, Bitcoin reached the highest level ever at 73,679 dollars before entering a unification phase, and swinging around about $ 20,000 until the Donald Trump was elected as our president in November.
Signs of the current plan for Bitcoin “Frequency in the Market”
Thynin said he had this thought even two months ago, soon from his highest level over the current time of $ 109,000 on the day of Trump’s inauguration.
He explained his intention recently Market report on March 15 that the current Bitcoin scheme is similar to “high science and distress”, which, although it is usually a upscale continuity pattern, shows signs of weakness.
The Bitcoin price chart is a high and narrow style. source: 10x search
“Two signs instead of one accurate formation weakens this setting.”
“As a result, the pattern currently indicates the market decline instead of unifying a direct bullish,” he added.
At the same time, he also indicated that the instant Bitcoin exchange box market does not show any signs of the “purchase” mentality.
A small incentive to take advantage of the last bitcoin price
“This corresponds to our point of view that most ETF flows came from the hedge boxes driven by the arbitration. Given the constantly low financing rates, there are few incentives or willingness to spread additional capital despite the last price correction.”
Since the beginning of March, when Bitcoin decreased to less than $ 90,000, investment funds circulated in the United States in the United States recorded about $ 1.66 billion, According to To Farside data.
Bitcoin is trading at $ 84,290 at the time of publication, According to To Coinmarketcap. This represents a 23 % decrease of its highest level in January.
Bitcoin decreased by 12.86 % during the past month. source: Coinmarketcap
Thielen is not sure whether Bitcoin trends will resume in the short term. “Therefore, it may be wise to close short situations at this stage, although there is still a few evidence to support strong prices,” said Thyin.
Related to: Bitcoin panic is costing new investors 100 million dollars in 6 weeks – research
Since Bitcoin fell to less than $ 80,000 on February 28 – the first time since November – amid uncertainty in the macroeconomic economy on the proposed US President Donald Trump’s tariff, many encryption analysts predict more asset.
“It seems that Bitcoin will lead to an estimate of $ 78,000.” “If it fails, $ 75,000 is the next in Crosshairs,” he added.
Meanwhile, Elijah Calch Chef, NEXO Investment Assets, CointeleGRAPH on March 11, told the Digit of Digit Assets, CointeleGRAPH on March 11 that $ 70,000 can “may provide a basis for a more sustainable recovery.”
magazine: Crypting fans are obsessed with longevity and vital length: this is the reason
Related Articles
