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3 Bitcoin Price Factors That Suggest Bears Are in Charge

The Cryptocurrency Market seems to have staved off further decline for the moment, as the marketcap is practically unchanged rising about 0.88% in 24 hours.

Coinmarketcap Up 0.88% in 24 Hours

The prospect of a deeper drop in bitcoin prices has increased, price-volume analysis indicates.

The world’s most valuable cryptocurrency, which had been trading sideways since September 22, fell sharply to a three-week low of $6,220 on Bitfinex yesterday, confirming a range breakdown.

Furthermore, the bearish case is now looking stronger than it did 24 hours ago due to these three factors:

1) BTC breached key support

Godbole, O. (2018). 3 Bitcoin Price Factors That Suggest Bears Are in Charge — CoinDesk. [online] CoinDesk. [Accessed 12 Oct. 2018].

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