Bitcoin [BTC] investors should read this before making investing decision
Bitcoin recorded a sluggish performance this week, with the crypto’s 7-day chart mostly painted in red. The aforementioned depreciation ignited several speculations in the market regarding what is to come next. As always, the crypto-community’s opinions are diverse.
While some believe a trend reversal might happen in the coming days, several reports suggest otherwise. At the time of writing, Bitcoin was trading at $20,010, having fallen by over 5% in the last 7 days alone. It had a market cap of over $384 billion too.
Recently, Dan Lim, an analyst writing for CryptoQuant, pointed out in his analysis that the possibility of Bitcoin falling further is high due to several international reasons. In doing so, Lim highlighted quite a few bearish market conditions that may contribute to the same.
<p lang=«en» dir=«ltr» xml:lang=«en»>Percent of 1W ~ 1M $BTC is 3.8%«This indicator is the ratio of BTC that are 1 week to 1 month old after purchase, and is data that can be viewed as a basis for short-term buying.» by @DanCoinInvestor
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