Bitcoin Price Sideways

With the current market movement (or lack of it) it’s important to understand the forces behind it and, at least to some extent, find reasons for the current stillness. In my last articles we’ve been discussing how smart money and dumb money forces push the price upwards or downwards. If we align this trend with the lack of interest from the general population over cryptocurrency and bitcoin, it becomes clear why has the price been moving sideways. Another key feature of understanding price is looking into how much new money is coming into cryptocurrencies market. To do that, we look at volume. Looks shady, right? As you can see volume has been quite low across all exchanges. And we’re looking into bitcoin, the most traded cryptocurrency there is. This also shows that clearly there is no new money coming into bitcoin, at least not smart money, as low volume usually means no huge quantity of fresh cash is coming into the market. If we check the number of trades this should give us a confirmation of what we just hypothesised, this is, if the number of trades is dropping over time.

Reference: https://www.ccn.com/bitcoin-price-sideways-price-freedom/

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