While Bitcoin has suffered harsh fluctuations in recent months, analysts detected similarities with the great collapse of 2018. BTC depreciated 22 %of $ 109,000, the highest level of all time, and investors are worried. Macroeconomic factors and over -chain data indicate the risk of a new drop for Bitcoin.
Similarities between Bitcoin and 2018 collapse
In 2018, Bitcoin lost a harsh decline and lost 72 %. At that time, the trade war between the US and China and the increasing inflation had a great impact. Today, similar economic pressures have come to the agenda again.
The US’s $ 7 trillion debt refinance process has begun. Investors are leaving risky assets and turning to bonds. This may cause liquidity withdrawal from volatil markets such as BTC. If this trend persists, the price of BTC may enter a larger correction process.
On-aChain data increases the risk of decrease
According to Glassnode’s latest report, the Bitcoin market has now moved from the accumulation stage to the sales stage. Accumulation Trend Score data is at 0.1 levels, which shows that investors do not enter the market.
Short -term investors come out of the market by selling at a loss. The STH-Sopr data fell to 0.97, which proves that investors do their sales to loss. If this persists, Bitcoin’s support levels may weaken and decline may accelerate.
What’s next for Bitcoin?
The price of Bitcoin decreased by 22 %to the highest level of all time and tests support levels. However, the decrease in the interest of the buyer and large sales waves make the direction of BTC uncertain.
If investors do not believe that the market is reliable, a long decline process may begin as in 2018. However, if the BTC can hold on critical support levels, a new purchase wave can be triggered. The coming weeks will be decisive for the future of Bitcoin.
Does Bitcoin crash like 2018 or a new rally?
As Kriptokoin.com, Bitcoin’s current price movements and investor behaviors point to great uncertainty in the market. If BTC cannot hold on critical support levels, a long -term decrease trend may be inevitable. However, if corporate investors have return and market confidence increase, Bitcoin may enter the rise trend. The most important factor that will determine price movements in the coming days will be how investors will react to the market.
