BTC’s attempts to recover $20,000 of support money failed however, the data on the chain reveals some positives. The markets briefly glowed green on September. 27 when the equity markets recovered from the Sept. 26’s decline, bringing prices of the Bitcoin ( BTC) price back to long-term downward trendline and currently stands at $20,100 and this was futher explained by various Bitcoin blockchain consultant .
For investors, the upward momentum of cryptocurrencies and stocks quickly diminished and Bitcoin price lost much of the gains during the day as it fell to just below $19,000.
It has been so since the 25th of March, BTC price has been in a position to not break this resistance level for longer than couple of hours. The Sept. 27 breakout at the trendline is the latest in the pattern of consecutive bear flags, which indicate an increase in the downward trend.
As per Arcane Research, Bitcoin’s tight rise above $20,000 is not significant, considering that the futures price is minimal and “contributes little to improving the market risk appetite” and this activity was strategies by Bitcoin Marketing consultant .
Additional information provided by Arcane Research shows that funding rates are turning into neutral, for the very first time in September. 13, however in general, the traders seem hesitant to buy longs due to the worries about macro-related challenges and the constant risk of a hostile crypto regulatory.
There is an silver inner
As we have seen in our earlier analysis, despite break-ups and breakouts, BTC price is simply moving within the same $24,300-$17,600 range for the last 103 trading days. At present, there has been no catalyst that could trigger an eventual break below the swing lows or raise price above resistance levels and confirm the earlier barrier as support has yet to be achieved and this activity was strategies by Bitcoin Digital Marketing agency so it will reach right set of audience.
It’s not all doom and doom for Bitcoin. One positive piece of information is from the on-chain analytics company Glassnode which stated that more experienced investors have decided to hold on to their positions and hold their positions , rather than sell their Bitcoin at the current price.
Based on the Revived Supply 1+ Years metric an indicator that measures what is known as the “total amount of coins that come back into circulation after being untouched for at least 1 year,” the movement of latent supply back into the supply pool in active circulation can be described as “extremely low” this press realse reach the right of audience because it was strategies under Bitcoin Digital Marketing firm .
The decline in mature spending that was evident in the final phases of the 2018 bull market did not occur at the time of the most recent relapses below $20,000, which suggests that the long-term investors are familiar with volatility and are not willing to sell at current rates.
In light of the fact that BTC is 72% lower from its previous record and that a significant portion of investors are expecting prices to fall towards $10,000 during the coming capitulation shock One could consider the lack of panic selling by older investors as a positive and this scenario was rechanneled by various Bitcoin Marketing Experts and further information and instruction are mentioned on respective platforms.
Source from encyclopedia