Bitcoin’s price has been struggling to gain any serious momentum over the past few days
This has come about due to the stock market’s sideways trading, which is still holding heavy influence over that of BTC
The cryptocurrency is facing some heightened selling pressure due to bearish developments within the market, but bulls have been absorbing the heavy influx of sell orders
Where the entire market trends next may depend largely on Bitcoin
One analyst is noting that he believes it is coiled up to make a big move in the near-term
He even notes that this may be the “calm before the storm” and that a serious upside movement could be right around the corner
Bitcoin and the entire cryptocurrency market are currently trading sideways. Both bears and bulls have been struggling to take control of the market’s near-term outlook, which may be due to the stock market’s lack of momentum.
One analyst is noting that Bitcoin could currently be caught within the “calm before the storm” – a sentiment that indicates a big move is coming.
he same analyst further stated that he believes Bitcoin would rocket straight up towards $20,000 if it were to breakout today.
BITCOIN STRUGGLES TO GAIN MOMENTUM AS ENTIRE MARKET CONSOLIDATES
At the time of writing, Bitcoin is trading up marginally at its current price of $11,350. This is around the price at which it has been trading throughout the past few days.
This has come about due to the stock market’s sideways trading, which is still holding heavy influence over that of BTC
The cryptocurrency is facing some heightened selling pressure due to bearish developments within the market, but bulls have been absorbing the heavy influx of sell orders
Where the entire market trends next may depend largely on Bitcoin
One analyst is noting that he believes it is coiled up to make a big move in the near-term
He even notes that this may be the “calm before the storm” and that a serious upside movement could be right around the corner
Bitcoin and the entire cryptocurrency market are currently trading sideways. Both bears and bulls have been struggling to take control of the market’s near-term outlook, which may be due to the stock market’s lack of momentum.
One analyst is noting that Bitcoin could currently be caught within the “calm before the storm” – a sentiment that indicates a big move is coming.
he same analyst further stated that he believes Bitcoin would rocket straight up towards $20,000 if it were to breakout today.
BITCOIN STRUGGLES TO GAIN MOMENTUM AS ENTIRE MARKET CONSOLIDATES
At the time of writing, Bitcoin is trading up marginally at its current price of $11,350. This is around the price at which it has been trading throughout the past few days.
