Bitcoin (BTC) is slowly decreasing, volumes are low, public interest in the cryptocurrency market is falling. In short, it is already a beautiful corpse that does not interest anyone much. And when you think it can’t get any worse, interest drops even more. The reason is obviously the low volatility. Bitcoin is as slow as any other stable coins.
The end is near?
It may already be played, but the worse it gets in this regard, the more you should be interested in what is happening in the markets. Because a big move in the exchange rate is coming in the near future. And it will be unexpected and very fast. Remember November 2018? Back then, the market was an even bigger corpse than it is now. And then suddenly crash. This resulted in a downward movement of over 50%.
And do you know what the interest was in cryptocurrencies at the time? A few months absolutely minimal. Nobody cared at all what was happening on the market. And that was exactly the mistake. Because then most were unprepared. Since the drop to $ 4,000- $ 3,200 was a huge opportunity in itself. Now you may be afraid that the BTC exchange rate will do that drop another 50%. But this can easily happen. If there are enough sellers, why not? If something like this happens, take it as an opportunity. But you have to be prepared for it. Psychologically and from the point of view of knowledge.
Current situation 1D BTC / USD
So the BTC rate is still crouched in the liquid zone which is around $ 19,000. The rate has fallen by about over 7% in the past week and managed to briefly drop below $ 19,000. Note that the volumes are completely flat compared to what we were used to in September. Interest is indeed ebbing threateningly. For example, during the previous There was practically no liquidity on Saturday and Sunday. If someone tried to send him to hell on the weekend, that would be enough.
The only small technical change is to RSI indicator. We had a short uptrend. But the trend line is broken. Perhaps it is a harbinger of another fall. Or not? How negative momentum stopped at the support which is about 42 points.
In short
Unfortunately, Bitcoin has been without interesting movements for too long and this is also reflected in the volumes. There is simply not much interest in moving it anywhere. Everyone seemed to be just waiting for what would happen. There are too many negative messages. Mainly inside connections with Great Britain. So could UK pension funds be the black swan for the global financial market? Why not. After all, one company’s assets are important to the assets of many other companies. Then it’s a chain reaction. And that’s what we are waiting for. That is, like sharks, we wait somewhere below to take advantage of the opportunity.
I am new and forward Linkedin, where I share some of my insights and best articles. Feel free to follow me there.
If you have any questions about cryptocurrencies, don’t hesitate to join us discussion groups on Facebook. Don’t forget to join ours too official discord server KRYPTOMAGAZIN CZ. We also have Youtube channelwhere you can sign upso you won’t miss any videos or streams.
ATTENTION: None of the information in the article is investment advice. The analysis does not attempt to predict future price developments. It serves solely as an educational content on how to think about the market. Do your research and analysis before making any investments, always trade at your own risk. The kryptomagazin.cz team strongly recommends individual risk consideration
