CandleFocus Bitcoin to $31,500? Chart Hints at Potential BTC Price Drop
2024-09-13
Author: Content Editor
The Bitcoin (BTC) price chart suggests a potential drop of almost 45%, according to trader and on-chain analyst Ali Martinez. BTC is currently trading below its crucial 200-day moving average of $64,000, and if it drops further, history indicates that sharp price declines are likely. Martinez predicts that BTC could dip to its realized price of $31,500. Currently, BTC is trading at $58,333, reflecting sideways movement and bearish sentiment in the market. The decreasing trading volume and consolidation phase for BTC and other coins like Ethereum (ETH) indicate a lack of interest and confidence among investors.
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