Bitcoin may fall lower but BTC power-law frames crash to $58K as ‘normal’
Bitcoin’s drop to $58,000 lines up with the power-law model’s cycle lows, even though futures market data points to deeper lows for BTC price.
CryptoPotato·
The total crypto market cap has risen by a mere 0.5% over the last day.
Read full articleBitcoin’s drop to $58,000 lines up with the power-law model’s cycle lows, even though futures market data points to deeper lows for BTC price.
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Bitcoin briefly plunged to a new year-to-date low of $58,035 on Thursday morning before staging a relief rally to trade flat around $59,500. Despite recovering its 24-hour losses, the intra-day chart reveals severe volatility and erratic price swings. Volatility Grips Bitcoin After Fresh YTD Low After plummeting to a fresh year-to-date (YTD) low of $58,035 […]
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Bitcoin’s crash to $58,000 confirmed a bear flag breakdown, setting a new price target of $54,000 or lower.