bullish

Bitcoin ETF

Bitcoin

ETF COIN

<p>The post <a href="https://coinpedia.org/news/bitcoin-price-analysis-why-experts-are-eyeing-a-potential-upswing/" rel="noopener noreferrer nofollow">Bitcoin Price Analysis: Why Experts Are Eyeing a Potential Upswing</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p><p>There is a strong expectation in the crypto community that the price of Bitcoin would witness a strong upward momentum in the near future. An analysis done by crypto researcher Axel Adler Jr., using the BTC Long-Term Holders Exchange Inflow Analysis chart, provides compelling insights into this expectation. His Bitcoin price analysis presents a strong reason why the anticipation of a bullish future for BTC is not baseless. This aligns with broader <strong><a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin price predictions</a></strong> suggesting potential significant gains.</p><h2 class="wp-block-heading" id="h-btc-lth-exchange-inflow-analysis-what-it-conveys-nbsp">BTC LTH Exchange Inflow Analysis: What It Conveys&nbsp;</h2><p>In a recent post shared by Adler in X, he has shared the observation about the future growth potential of the price of Bitcoin.&nbsp;</p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet"><p>The average volume of LTH exchange inflow has decreased to 0.6% of the total volume. <br><br>This is an extremely low figure for the last ten years. In eight similar cases, this led to further price increases, while in four, it resulted in declines. <a href="https://t.co/ECQzmMCW6U" rel="noopener noreferrer nofollow">pic.twitter.com/ECQzmMCW6U</a></p>— Axel <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f48e.png" alt="💎" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"> Adler Jr (@AxelAdlerJr) <a href="https://twitter.com/AxelAdlerJr/status/1829391741436178694?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 30, 2024</a></blockquote></div></figure><p>He has pointed out the lack of interest of long-term holders of BTC to move to exchanges. At present, the amount of BTC being moved by LTH to exchanges is just 0.6% of the total volume. He has observed the occurrence of a similar situation at least 12 times in the past. His analysis has identified a positive impact on Bitcoin’s price in at least 8 of the 12 past scenarios. Also, his post has discussed the four different occasions when the price has shown opposite results.</p><p>The analysis made by Adler does propose a chance for the price of Bitcoin to start a bullish momentum in the near future, it does not rule out completely the possibility for the occurrence of a downtrend. The analysis gives importance to both these market speculations but gives a slight edge to the former considering the market precedents.&nbsp;</p><figure class="wp-block-image"><img width="900" height="506" src="https://image.coinpedia.org/wp-content/uploads/2024/08/30183107/image-588.png" alt="" class="wp-image-344916"></figure><h2 class="wp-block-heading" id="h-bitcoin-price-momentum-a-general-analysis-nbsp">Bitcoin Price Momentum: A General Analysis&nbsp;</h2><figure class="wp-block-image"><img width="1600" height="900" src="https://image.coinpedia.org/wp-content/uploads/2024/08/30183107/image-587.png" alt="" class="wp-image-344915"></figure><p>The price of Bitcoin is right now just $59,414.15. Since mid-March, after the price of BTC reached the yearly peak of $73,000, the strength of the BTC price has fallen. This month, August, 2024, it dropped even below the previous month’s lowest of $55,844, to $54,031. Though in the last month the market raised steeply between July 8th and July 21, in which the price was lifted from $55,801 to $68,109, this month between August 2 and August 5, the market experienced a steep fall, from $65,302 to the lowest point of $54,031. Till now, the market has not yet recovered from the impact of the fall, albeit its recent attempts on August 8 and August 23 to push the price higher.</p><p>In the last 30-days alone, the market has seen a fall of 10.1%. The market has experienced a 7-day decline of 2.7% and a 24-hour drop of 1.5%, indicating that no clear sign of market reversal has emerged in the chart yet</p><p>Also Check Out : <a href="https://coinpedia.org/news/blackrocks-ibit-records-its-second-ever-outflow-investors-concerned-amid-volatility/" rel="noopener noreferrer nofollow">Bitcoin ETF News: Blackrock IBIT Stunned by $563.7M Outflow—Is This a Crisis Signal?</a></p>

Bitcoin Price Analysis: Why Experts Are Eyeing a Potential Upswing

Table of Contents

CoinPedia News

Other articles published on Aug 30, 2024

Polygon Bear Cycle Warns MATIC Price Drop To $0.38!

Top Crypto Proponent: XRP Will Bridge Gold-backed Currencies

Oasys Secures Major Funding from SBI Holdings to Boost Gaming Blockchain

Solana vs. Ethereum: Insights from the Experts!

Magic Eden Announces Official Ecosystem Token, ME

BabyDoge Renounces Token Contracts on Ethereum and BNB Chain

Join our free newsletter for daily crypto updates!