Crypto Money Analyst and Investor Jason Pizzino, Bitcoin $96,344.93He pointed out that risk signs have increased. Youtube said in a statement, Pizzino, market interest and transaction volume decreases, Bitcoin price may pose a danger of breaking, he said. Analyst warned investors by drawing attention to the reduction of interest in Google Trends data and the daily trading volume could not reach critical levels.
Interest and transaction volume decreases in Bitcoin
Jason Pizzino stated that there was a decrease in search volumes of Bitcoin and pointed out that this is a critical signal for market risk. According to Google Trends data, Bitcoin searches are gradually decreasing. Pizzino said that the decrease in interest may affect market behavior and increase the risk of possible decrease in prices.
Analyst said that the weakening in the transaction volume is also remarkable. The daily transaction volume in the central stock exchanges is around 50 billion dollars. However, this figure is well below the peak levels in the past. This weak trading volume may cause investors to approach cautiously. He stressed that the market may be difficult to find direction unless the critical volume levels cannot be overcome.
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According to Pizzino’s assessment, these indicators lead to an increase in downward risks in the Bitcoin market. In particular, a long -term continuation of market interest and transaction volume decrease may increase sales pressure.
Critical levels key to rise
Jason Pizzino said that a significant level of resistance should be exceeded in order for the price of Bitcoin to enter the rise trend again. According to the analyst, the level of $ 102,600 on February 3 is of great importance. Bitcoin’s closing over $ 103,000 can strengthen signs of rise.
Consistent closings above this level can contribute to a positive return of the market. However, in the current situation, Bitcoin is trading around $ 96.220 and needs a strong market support to recover from this level.
Analyst states that investors should follow these critical levels closely. In particular, it warns that the risk of decrease may increase if it is below these levels.
These developments in the Bitcoin market necessitates cautiously to be cautious. It is of great importance to monitor the price movements and to observe whether the transaction volume has increased again.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
