Traders Can Expect Bitcoin (BTC) Bull Rally in 2022 Only If This Past Cycle Repeats

It’s been a while since the global crypto market cap has been trading below $1 trillion- mainly due to the Bitcoin price which lost the crucial levels yesterday and fell to $18,000. However, now, BTC seems to be struggling for recovery and is currently trading at $19,281, up by 2.95% from the last day.

Amid such market uncertainty, it’s always helpful to seek out certain indicators which can provide some clarity to the situation. The Glassnode analytics claim that the SOPR chart (Spent output Profit Ratio) of  Bitcoin is suggesting that traders and investors are bailing out their investment during the bear markets with the hope of getting a better entry in the future.

Also, the increasing inflation and Federal Reserve’s tightening financial measures have forced the market participants to sell their investments.

Bitcoin Price To See Short-Term Bull RunThe pump and dump pattern of Bitcoin is indicating an unpleasant September- which does not come as a shock as almost every September month for the last 9 years has been highly bearish. The dip that we’re likely to see this month could be a good opportunity to buy at good prices. 

Bitcoin has yet again claimed the $19,000 price range because of which the relative strength index (RSI) is suggesting that there might be some short-term surge expected for Bitcoin price.

In particular, the RSI flashing a positive trend happens whenever the asset’s price forms a lower low and then the RSI indicator creates a higher high pointing towards a bullish future.

On the flip side, the overall crypto market is experiencing fear due to Europe’s increasing energy crisis as this calamity might even affect banking and global economic crises. Nevertheless, if history has to repeat itself, there will be a short-term bull run for the Bitcoin price.

Was this writing helpful?

Qadir AK Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Website Facebook Twitter LinkedIn
Read More

Leave a Reply

Your email address will not be published.

You May Also Like

: Data from 2.1 million students in 10,000 schools reveal the impact of remote learning: lower academic achievement and reduced socio-economic mobility

How has remote learning impacted children’s academic achievement? Using testing data from…

Beware! Scammers hacked an Indian Website with a Fake Azuki NFT Airdrop

You are here: Home / News / Crypto Scam / Beware! Scammers…

Using analytics to optimize marketing spend and drive sales

“Our No. 1 goal is to understand the impact that our marketing…

Aggregation is key to the new Martech Map

Back in 2015, there was a lot of talk about the “Frankenstack”…