Most traders have been sitting on the sidelines from Bitcoin as it struggles to end the current consolidation zone. The price of bitcoin is still hovering around $19,300 and is moving sideways on lower timescales. Since it has been fluctuating within the same range for several weeks, the price is struggling to gain momentum.
BTC Price To Start New Rally!
Scott Radler, a seasoned professional trader, said in a recent tweet that Bitcoin is on the verge of another significant breakout. The analyst believes that the price of BTC will eventually rise now.
Redler predicted last month that the price of Bitcoin may fall to $10,000 if it managed to hold the $17,600 mark, which continues to be the 2022 low.
bitcoin will not Crash 50%
Many analysts predict that BTC price is following a similar price pattern as in 2018 and thus is on the verge of a 50% drop in the coming days. But the on-chain platform has a different view of crypto volume, according to the platform, with the analyst comparing the current price action of BTC to November 2018.
According to the crypto quant, the market is already in a bear market and has experienced a drop similar to November 2018. As per the analysis, the November 2018 drop from $6k to $3k is very similar to the fall from $30k to $18k.
According to crypto volume, the market has already entered a bear market and has fallen as of November 2018. According to the analysis, the drop from $6k to $3k in November 2018 is similar to the drop from $30k to $30k. $18k.
Furthermore, Onchain Edge concludes in the comments that now is a good time to start accumulating Bitcoin on a dollar-cost-averaging (DCA) basis. Even if the price declines, the analyst believes that the bottom is close.
