Bitcoin

While investors were waiting for the continuation of the rise in Bitcoin, which had a nice rise in the past weeks, BTC experienced successive corrections.
While it remains a matter of curiosity how long these corrections will continue, a new post came from popular analyst Ali Martinez.
Stating that at this point, the network growth in Bitcoin has dropped visibly, the analyst said that this situation raises concerns about the sustainability of the upward momentum.
Stating that it is very important to see an increase in the number of BTC addresses in order to continue the rise against this decline, the analyst said:
<blockquote>
 “There has been a noticeable decline in Bitcoin network growth, stalling BTC's recent move to $44,000 and casting doubt on its sustainability.
 For the bull rally to continue strongly, it is very important to see an increase in the number of new BTC addresses. “This increase will provide the necessary support for sustainable upward momentum.”
</blockquote>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 There's been a noticeable dip in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> network growth over the past month, casting doubt on the sustainability of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>'s recent move to $44,000.
 For a robust continuation of the bull rally, it's crucial to see an uptick in the number of new <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> addresses. This would provide… <a href="https://t.co/WkrjxLkZMI" rel="noopener noreferrer nofollow">pic.twitter.com/WkrjxLkZMI</a>
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1736637268608106933?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 18, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="the-fall-in-bitcoin-may-continue">“The Fall in Bitcoin May Continue!”</h2>
The analyst also warned against the risk of decline in BTC in his next post, and said that if the selling pressure increases, Bitcoin carries the risk of falling between $ 37,500 and $ 38,700, which is the next demand zone.
<blockquote>
 “Bitcoin fell below the key supply zone between $41,200 and $42,400. In this area, 1.87 million addresses had accumulated 730,000 BTC.
 The decline may trigger these investors to sell in order to reduce their losses.
 If selling pressure increases at this point, a possible drop to the next demand zone, i.e. between $37,500 and $38,700, could occur. That's why investors need to be careful about this decline risk.”
</blockquote>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> has slipped below a key supply zone, ranging from $41,200 to $42,400. In this area, 1.87 million addresses had accumulated 730,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>.
 This downturn might trigger these holders to sell, aiming to cut losses.
 If selling pressure increases, watch for a possible decline… <a href="https://t.co/aTX1RWarkb" rel="noopener noreferrer nofollow">pic.twitter.com/aTX1RWarkb</a>
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1736680326141816895?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 18, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Bitcoin continues to trade at $40,713 at the time of writing.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/popular-analyst-warned-about-the-decline-in-bitcoin-and-announced-the-levels-to-watch/" rel="noopener noreferrer nofollow">Popular Analyst Warned About the Decline in Bitcoin and Announced the Levels to Watch!</a>

Popular Analyst Warned About the Decline in Bitcoin and Announced the Levels to Watch!

Table of Contents

Bitcoin Sistemi EN

Other articles published on Dec 18, 2023

Dogecoin Founder Denies Ties To Abandoned Crypto Project From 2013

Helium Mobile Price Skyrockets Amidst Mapping Rewards Rollout

The Tension Between Cardano’s Founder and the XRP Community

Record Token Burns in the Avalanche Network

Under-the-Radar Altcoin Surges 60% in 24 Hours Amid Network Expansion and Explosive Demand for So...

STX decouples, ‘stacks’ up in value

Join our free newsletter for daily crypto updates!