bullish

2024

Bitcoin

As Bitcoin's volatile performance continues to make investors nervous, a new analysis has arrived from Ark Invest.
ARK Invest, led by Cathie Wood, released its monthly report on September 13.
Noting that Bitcoin experienced a major decline in August, Ark Invest stated that BTC failed to surpass its 200-day moving average and short-term investors' cost price of $63,693 and $63,245, respectively.
In the face of this poor performance, Ade
Stating that Bitcoin could not make a significant leap after the sharp declines in August, ARK Invest analysts said that despite the declines, they are optimistic about the price due to historical data, MVRV Z-Score and macroeconomic conditions.
<blockquote>
 “Currently, Bitcoin’s most important price support levels are located at $52,000 and $46,000.
 Despite the sharp declines in Bitcoin, we remain optimistic, as the declines Bitcoin is experiencing in 2024 coincide with corrections seen in major trends during historical bull markets.
 Corrections of 30% or more from yearly highs typically indicate bull markets.”
</blockquote>
Analysts also noted that Bitcoin’s MVRV Z-score remains in the bull market territory, suggesting that Bitcoin’s long-term bullish trend is continuing.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/ark-invest-said-two-levels-are-critical-in-bitcoin-announced-its-long-term-expectation/" rel="noopener noreferrer nofollow">Ark Invest Said Two Levels Are Critical in Bitcoin, Announced Its Long-Term Expectation!</a>

Ark Invest Said Two Levels Are Critical in Bitcoin, Announced Its Long-Term Expectation!

Bitcoin Sistemi EN

Other articles published on Sep 13, 2024

MicroStrategy Announces Massive $1.1 Billion Bitcoin (BTC) Purchase

Celestia runs a light node in user’s browser when using TIA block explorer

New Solana Memecoin Trump Loves Tesla (TRUMPTES) to Rally 14,000% Ahead of Exchange Listing, Whil...

Binance Announced: “This Cryptocurrency Field Is Growing So Fast, It Has Doubled Its Value”

Is XRP Price on the Verge of a 300% Breakout? Symmetrical Triangle Suggests Big Move

RUNES Protocol Faces 63% Drop in Market Cap and Decline in Trading Volume

Join our free newsletter for daily crypto updates!