Bitcoin Needs to Pass This Test Before It Even Rises

Many analysts say that the price of Bitcoin (BTC) Although BTC is expected to exceed the $50,000 level, it may encounter resistance in the short term.

According to TradingView data, Bitcoin gained 12.61% during the week and rose above 48 thousand dollars.

According to IntoTheBlock data, Bitcoin, approximately 48 thousand 500 dollars It may encounter resistance at the level. Because blockchain data, more than 800 thousand approximately held in wallet The average cost per unit of 270 thousand Bitcoins is 48 thousand 491 dollars shows that it is.

The owners of these addresses have to leave the market when the price reaches this level. Bitcoin may start selling. These addresses are still is in loss IntoTheBlock team stated that this was a result of investors. Selling pressure may arise explained.

The article titled Bitcoin Needs to Pass This Exam Before It Rises was prepared by Selim Kuşçu and published on koinbulteni.com.


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