The Indicator That Predicted Historical Bitcoin Price Corrections Flashed Again - BitcoinEthereumNews.com
BitcoinThe Indicator That Predicted Historical Bitcoin Price Corrections Flashed Again04 / 20 / 2022बिटकॉइन एथेरियम समाचार Despite being more than $3,000 up in the past two days, bitcoins price trajectory has been on the downfall on a more macro scale. According to a recent analysis, the primary reason for this could be the massive drop in the network activity, especially inflows and outflows to and from cryptocurrency exchanges. BTC Exchange Activity Plummets It was precisely six months ago when the largest cryptocurrency by market cap spiked to an all-time high of nearly $70,000, perhaps fueled by the hype surrounding the first-ever BTC futures ETF going live in the US. As the hype dispersed in the following months and other macro-political events took center stage – such as the US raising interest rates, the rumored end of the COVID-19 pandemic, and the war between Russia and Ukraine – bitcoin slumped in value. At one point, it was down by more than 50% from its peak in just months. BTC rallied once again at the end of March and neared $50,000, but the start of April was bearish once more, and the asset नीचे गिर गया $40,000 weeks later. The analysts from CryptoQuant believe there could be another