What's Hot

    Many American stars face lawsuits for promoting cryptocurrencies

    03.02.2023

    What is happening in the NFT market in 2023. Which collections are the most profitable

    03.02.2023

    how the decision of the American authorities affected the crypto market

    03.02.2023
    Facebook Twitter Instagram
    Saturday, February 4
    Facebook Twitter Instagram
    Crypto News
    • Home
    • Bitcoin
    • Ethereum
      • Altcoins
      • ICO
    • Analytics
    • Blockchain
    • Other
      • DeFi
      • Mining
      • Regulators
      • Security
    Crypto News
    Home»Bitcoin»U-turns, “whales” and “sideways”. When will the crypto market correction start?
    2e75a594120ae780f9e089df103af6746a24563d
    Bitcoin

    U-turns, “whales” and “sideways”. When will the crypto market correction start?

    AdministratorBy Administrator01.12.2021No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    bt-crow.com

    01 December 2021 11:56, UTC

    Reading time: ~ 2 m


    The lack of Bitcoin growth in December, a decline to $ 48 thousand and other conditions that can reverse the current upward trend, as well as prevent the asset from reaching a new all-time high

    U turns whales and sideways When will the crypto market correction

    Last weekend, the price of bitcoin dropped to $ 53.2 thousand for the first time since early October. At the end of November, the first cryptocurrency fell by 7%. The experts explained under what circumstances the digital asset market could continue to decline and plunge into a deep correction phase.

    Important level

    The decisive factor for the start of a protracted and deep correction in the crypto market will be the decline in bitcoin to $ 48 thousand, says Mikhail Karkhalev, financial analyst at Currency.com crypto exchange. According to him, this level is key, since during the growth of the asset in the spring, he managed to stop its fall twice and return to growth.

    “After the Chinese crypto-nightmare, the level of $ 48 thousand put up serious resistance before the start of a new rise to new highs. Therefore, it seems to me that in the event of a fall below this mark, a downtrend will begin on the crypto market, ”the analyst explained.

    The decline in bitcoin to $ 49 thousand was already predicted by trader Michael van de Poppe. According to him, there is strong support at the level of $ 49 thousand, which has already helped bitcoin recover in the spring of this year.

    The “whales” are at work

    At the moment there are no grounds for starting a deep correction in the market, but they may appear if the “whales” do not start the traditional pre-New Year “rally”, Anton Kravchenko, CEO of Xena Financial Systems, is sure. According to him, in the absence of active growth in December, the market will “cool”. This could reduce the price of bitcoin to $ 45 thousand, the expert predicted.

    Investors are called “whales” – large holders of digital assets.

    Obvious downtrend

    A change in the downward trend will be obvious only if the bitcoin price drops below $ 40 thousand, leading analyst at 8848 Invest Viktor Pershikov predicted. He believes that in this case the asset may move sideways with a wider range ($ 30-60 thousand) and get stuck in it for a long period.

    This means that even in the event of a trend reversal, the market will not experience serious collapses, the analyst explained. According to Pershikov, the market can spend the next year in motion from $ 30 thousand to $ 60 thousand with periodic reversals.




    #Uturns #whales #sideways #crypto #market #correction #start

    correction crypto Market sideways start Uturns Whales
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Avatar of Administrator
    Administrator

    Related Posts

    What is happening in the NFT market in 2023. Which collections are the most profitable

    03.02.2023

    how the decision of the American authorities affected the crypto market

    03.02.2023

    Crypto bloggers will fall under the control of the FCA

    03.02.2023

    on-chain metrics confirmed the bottom of the market

    03.02.2023
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts
    • Many American stars face lawsuits for promoting cryptocurrencies
    • What is happening in the NFT market in 2023. Which collections are the most profitable
    • how the decision of the American authorities affected the crypto market
    • Crypto bloggers will fall under the control of the FCA
    • Top 6 most successful altcoins this week
    Recent Comments
    • 수원출장 on A professor from a US university restored the Tornado Cash code to GitHub
    • 123 on Taproot support added to LND Lightning client
    • houston junk car buyer on 16,000% increase in social media mentions in 2021 Shiba inu
    • Jim Carrey Memy on Bitwise Launches NFT Tracking Index Fund
    • hotshot bald cop on Kava developers launch testnet with EVM support
    Archives
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    Categories
    • Altcoins
    • Analytics
    • Bitcoin
    • Blockchain
    • Ethereum
    • ICO
    • Mining
    • Other
    • Regulators
    • Security
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    Facebook Twitter Instagram Telegram
    • Home
    • Bitcoin
    • Ethereum
    • ICO
    © 2023 Bt-Crow.com - CryptoNews

    Type above and press Enter to search. Press Esc to cancel.