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Bitcoin has stalled, but here’s why pro traders still expect $80K by January
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Selecting a timeframe for technical analysis is always a tricky topic, but usually, the longer the trend, the higher the odds it shall prevail. For example, those analyzing the 3-day Bitcoin (BTC) chart will unarguably identify an ascending channel pattern that initiated in late June.
Bears will also always find ways to justify their views despite the fact that Bitcoin has hit new all-time highs following the United States consumer price surge to 6.2%, which is the biggest inflation surge in 30 years.
However, data from on-chain analytics firm Glassnode shows that long-term investors have stopped net accumulating and are now diversifying into altcoins. According to analyst Willian Clemente, the recent net selling from that class of investors
Read more on cointelegraph.comAbout this in other media
Bitcoin tumbles nearly 8% as new coronavirus variant shakes markets business-standard.com /2 years ago
Comparing Bitcoin’s current top to that in 2013 reveals maturity is still in the making ambcrypto.com /2 years ago
Explained: Why IMF does not support El Salvador’s use of Bitcoin as legal tender cnbctv18.com /2 years ago
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