Unstoppable Bitcoin Crash? Here's When The Nightmare Might End
Portfolio Pulse from Murtuza Merchant
Glassnode co-founders Jan Happel and Yann Allemann suggest that Bitcoin (BTC) could be nearing its bottom, with two possible short-term outcomes: a gradual decline to the $24.8k - $25k range or a swift, sharp drop countered by buying pressure. Crypto strategist Rekt Capital notes a shift in market dynamics and a lack of buy-side pressure, hinting at possible further declines. Major cryptocurrencies like Ripple (XRP), Solana (SOL), Dogecoin (DOGE), and Shiba Inu (SHIB) have seen significant losses over the last seven days.
August 19, 2023 | 6:12 pm
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NEGATIVE IMPACT
Bitcoin could be nearing its bottom, with possible further declines.
The analysis by Glassnode co-founders and Rekt Capital suggests a bearish short-term outlook for Bitcoin.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin has seen a loss of 18% over the last seven days.
The recent market downturn has negatively impacted Dogecoin's price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Shiba Inu has seen a loss of 23% over the last seven days.
The recent market downturn has negatively impacted Shiba Inu's price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Solana has seen a loss of 12% over the last seven days.
The recent market downturn has negatively impacted Solana's price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Ripple has seen a loss of 18% over the last seven days.
The recent market downturn has negatively impacted Ripple's price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60