BTC It has lost $60,000 again, and hopes that the first leg of a steady rise has begun have been dashed. It is a bad situation and the constant lower highs are so compelling that altcoins are suffering even greater losses. The movements that undermine risk appetite must end at some point. So what do analysts say?
Bitcoin Past Years Analysis
Analyst Chackmate wrote that he received similar signals to those in 2018, 2019 and 2021 crypto money warned its investors. The chart he looked at monitors the situation of investors who have been holding BTC for less than 15 days. Writing that the STH chart shows a similar trend to previous downward periods, analyst He says we may experience bigger declines due to investor panic. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Essentially, the current situation is not much different. Short-term investors have become much more timid due to the interruption of the rises and their continuity. In his market analysis, the analyst wrote;
“Being below a coin’s cost basis doesn’t tell us how bad it is. Being below 1 is psychologically very different from being below -20%. Even though 80% of STH coins are in losses, the size of the unrealized loss is only 4% of market cap.”
Bitcoin Predictions
This picture for short-term investors is related to the sharp decline from $ 70,000 and the late recovery. And when considered in today’s conditions, the feared decline may already be happening. In fact, according to IntoTheBlock data, 81% of investors (in terms of all groups) are BTC is profitable with its price. So STH There’s nothing so awful about leaving it out.
Checkmate also Bitcoin mining He says that the cost price for is $57,200 on average and that there may not be any bigger sales as long as the price stays above that. In fact, there is a miner reserve that has fallen to the bottom of the last few cycles. How much more they can sell is also a question mark in minds.
“I can imagine miners are struggling in the current environment and barely making a profit. For HODLers this is largely irrelevant (and expected). For miners and shareholders… I expect a rally.”
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
