Follow Us @
Bitcoin could fall another 24% if it loses critical support, analyst warns
-Trending Marketing news, content marketing, latest Ways to rank your website, marketing discoveries, Local SEO, seo and social media marketing services. enjoy your stay on our website.
Cryptocurrency analyst Ali Martinez issued a warning about the Bitcoin (BTC)which has fluctuated around the range of US$95 thousand. According to him, cryptocurrency could record a drop of more than 24%in case it misses an important support zone.
Using the model Unspent Transaction Output (UTXO) Realized Price Distribution (URPD)Martinez identified the main support areas for the asset. UTXO tracks the number of existing coins last moved within a specific price range.
Furthermore, the analyst highlighted the cost basis distribution metricwhich measures how much Bitcoin was purchased at different price levels. He noted that a large portion of investors who purchased BTC in the mid-range US$97 thousand to US$99 thousand are still holding their positions, which reinforces the importance of this support.
At the time of writing, Bitcoin is trading at $94,100with a devaluation of 2.3% in the last 24 hours, according to data from CoinGecko.
Bitcoin could fall and Cardano could rise
This prediction contrasts with a recent projection from IntoTheBlock, which stated that the asset could rise to $110,000 by the first week of January next year.
In addition to Bitcoin, Martinez drew attention to the Cardano (ADA)which may be replicating a similar pattern to the 2020 cycle. According to him, ADA has the potential to appreciate more than 597% from its current price.
Bitcoin could fall another 24% if it loses critical support, analyst warns
Follow TODAYSGIST on Google News and receive alerts for the main trending SEO news, Ai news, latest Ways to rank your website, marketing discoveries, Local SEO and lots more!
Bitcoin could fall another 24% if it loses critical support, analyst warns
SHARE POST AND EARN REWARDS:
Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program
FIRST TIME REACTIONS:
Bitcoin could fall another 24% if it loses critical support, analyst warns
Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >
Bitcoin could fall another 24% if it loses critical support, analyst warns
