Bitcoin Miner Activity Suggests a Correction May Be Around the Corner

Bitcoin Miner Activity Suggests a Correction May Be Around the Corner


Bitcoin has seen some turbulence throughout the day as a result of its break below $40,000 This level has long held as support, but the lack of intense buying pressure throughout the day has allowed bears to push it below this level Bitcoin is now sliding lower, with bulls being unable to grasp firm control of the cryptocurrency’s price action One trader is now noting that where the market trends in the mid-term will likely depend on whether or not the crypto can guard against any intense decline in the near-term While sharing his thoughts on where BTC might go next, one analyst offered a somewhat grim outlook He explained that miners appear to be selling in heightened quantities, which could place significant pressure on the crypto

Bitcoin is currently trying to defend against an intense drop below $39,000, proving to be a slight support level for the cryptocurrency.

The intensity and speed of its decline appears

Trending: 2,000 U.S. Marshals Just Deputized In D.C., Here’s Why!

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend