Is A Bitcoin Recovery Coming?

Could Bitcoin bounce back in the next few days?

Bitcoin He is from 2021. passed in glory and reached $66,000 in Octoberthis year will drop sharply to $19,000 currently. But investors are interested in whether there is still room to bounce back according to Christian Encila and Bitcoinist.

According to an online cryptocurrency data provider We will standthe largest cryptocurrency by market capitalization ended in 2021 in October, when the average price was $58,051, and the highest price was on the 21st of the month. was $66,890.

But Bitcoin is currently in a different space as it averaged $19,516 for the first 12 days of the month, reaching a monthly high of $20,408 on October 6.

Since the property remains a narrow range of price fluctuationsinvestors, analysts, and pundits are waiting to see if a bitcoin rebound is imminent.

Bitcoin ready for recovery?

Although cryptocurrency is fighting for maintain the $20,000 markerchain data shows that Bitcoin is on the way to a quick strong and short rebound.

One indicator to keep in mind is trade volume cryptocurrencies. Despite being influenced by what is now known as “criptoinvierno” and a bear market, showed spikes in your daily and weekly averages.

The Bitcoin trading volume reaches 22.1 billion. According to CryptoQuantthis rate could rebound a hint of a bull market.

It’s not uncommon for asset trading volumes to increase even during bearish spurts, and Bitcoin once again shows the crypto space that not everything goes down when the market is in the red.

Bitcoin Bull Market: A Year From Now?

After March of this year, Bitcoin has achieved at least four bounces due to significant price declines.

CryptoQuant only generates if can keep your trading volumes and averages upwill be in one good place to hold another rallyalthough it will not yet compare to what it did in 2021. in October

As for the asset bull market, Florian Grummes, CEO of Midas Touch Consultingshared some disturbing information that could dampen the hopes of investors looking for a better position in the market.

It was created by magazines A Bitcoin Bull market is still not expected for at least a yearbecause the cycle is not over yet.

A at the beginning of this yearGrummes said Bitcoin could be in that position try the $6000 worst price marker how does the cryptocurrency market face a liquidate the crisis.

Grummes predice que in 2024 bitcoin will halve in may and a bull market will begin right after.

Bitcoin At midday, it is trading at $18,600 and the 70-period moving average remains above the recent candles.

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