Is Bitcoin Gonna See Another Big Drop Soon? Historical Trend May Say Yes
Historical trend of the 200-day and 600-day MAs may suggest Bitcoin could observe another big drop in the near future. Current Bitcoin Pattern Has Historically Lead To A Big Drop In The Price As pointed out by an analyst in a CryptoQuant post, the current Bitcoin price looks to be squeezed between the 200-day and 600-day MA curves. A “moving average” (or MA in short) is an analytical tool that averages the price of Bitcoin over any desired range. As its name suggests, this average constantly updates itself as each day passes by and new prices are observed. The main benefit of....
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Bitcoin is dead, is going to die, and more are not unheard of comments. The cryptocurrency being bad for the environment, the economy, even being called rat poison isn’t anything new. But “we’re all gonna die” if the emerging technology succeeds is definitely a new one, and completely out of left field. The comment comes […]
Bitcoin’s long-term price structure is once again drawing attention, as the asset continues to follow a powerful historical pattern on the monthly timeframe. Despite short-term volatility and shifting market sentiment, the broader trend suggests BTC may still be tracking well-established cyclical behavior from previous market phases. How Historical Bitcoin Data Supports A Positive May Outlook […]
Charts show the Bitcoin price seems to be falling below the 600-day moving average, a sign that could be bearish for the crypto. Bitcoin Begins To Lose 600-Day MA Support Line As Price Crashes Below $39k Again As pointed out by an analyst in a CryptoQuant post, the price of the crypto is crossing below the 600-day MA curve now, a line that has served as support for BTC in the past. A “moving average” (or MA in short) is an analytical tool that takes the average of any quantity over a particular time period. As the name already suggests, this average constantly updates itself as....
“So we are gonna drop the lawsuit, 100% and I'm sorry this became public,” said Ben Armstrong. Ben Armstrong, the man behind Bitboy Crypto said that he is dropping the defamation suit against fellow Youtube content creator Erling Mengshoel Jr., who goes by the name Atozy.Armstrong officially filed the suit against Mengshoel Jr. on Aug. 12 in response to a Nov 2021 video titled “This YouTuber scams his fans… Bitboy Crypto” which alleged that Armstrong was dishonestly promoting dubious assets to his audience such as PAMP for his own gain. He was seeking $75,000 in damages over the ordeal.....
The powerful growth of Bitcoin’s price was followed by a sharp drop. That downward trend was natural. What explains the current drop? It was mentioned earlier that Bitcoin’s price has reached an important long-term resistance line. A new direction is usually chosen in such points, or, alternatively, an old trend continues with more power, but only after a rebound. What that means, is that there was a good chance for a drop, and it happened. The last confirmation was the disruption of the structure of the upward trend, a point where the drop finally took place. So far this short-term trend....