Bitcoin

Dogecoin

Shiba Inu

<div class="watcher-guru"> 
 <p>Crypto is currently in the midst of one of its worst bear markets. The first quarter of 2023 was surprisingly positive, with most <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> assets fetching investors positive ROIs. However, with macro-weakness still prevalent, Bitcoin and altcoins failed to establish a strong rally.</p> 
 <p>Bitcoin recently broke below its ascending channel, quashing the <a rel="noopener noreferrer nofollow" title="recover" href="https://thebittimes.com/tag/recover.html">recover</a>y narrative. Over the next few weeks, it is imperative for BTC to continue collecting liquidity around the current levels. A failure to do so could result in a drop of up to $15,588 in the worst-case scenario. That being said, the asset will get a couple of chances around $21,351 and $18,126 to redeem itself.</p> 
 <figure class="wp-block-image size-large"> 
  <img decoding="async" width="1024" height="457" src="https://cdn.thebittimes.com/images/2023/09/01/2f3dbacb37a0e5235ea66e9152ecec2c.webp" alt="" class="wp-image-110029" srcset="https://cdn.thebittimes.com/images/2023/09/01/2f3dbacb37a0e5235ea66e9152ecec2c.webp 1024w, https://cdn.thebittimes.com/images/2023/09/01/2f3dbacb37a0e5235ea66e9152ecec2c.webp 300w, https://cdn.thebittimes.com/images/2023/09/01/2f3dbacb37a0e5235ea66e9152ecec2c.webp 768w, https://cdn.thebittimes.com/images/2023/09/01/2f3dbacb37a0e5235ea66e9152ecec2c.webp 380w, https://cdn.thebittimes.com/images/2023/09/01/2f3dbacb37a0e5235ea66e9152ecec2c.webp 550w, https://cdn.thebittimes.com/images/2023/09/01/2f3dbacb37a0e5235ea66e9152ecec2c.webp 800w, https://cdn.thebittimes.com/images/2023/09/01/2f3dbacb37a0e5235ea66e9152ecec2c.webp 1160w, https://cdn.thebittimes.com/images/2023/09/01/2f3dbacb37a0e5235ea66e9152ecec2c.webp 1271w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    BTC/USDT by TradingView 
  </figcaption> 
 </figure> 
 <p>In the event of a <a rel="noopener noreferrer nofollow" title="recover" href="https://thebittimes.com/tag/recover.html">recover</a>y, BTC would first be tested at around $28,585. If it successfully breaks above, it could rise up to $31,804. However, given the current state of affairs and market sentiment, it doesn’t seem like this scenario will pan out anytime soon. Several analysts in the industry have brought to light the spot-derivatives volume imbalance. In fact, as analyzed in a recent article, any uptrend that has coincided with a spike in open interest has eventually faded. Analyst Dylan LeClair recently asserted that Bitcoin is going to ”maddeningly chop around” until either flows increase substantially or the supply gets sufficiently constrained for the current level of passive flows to send the market up.</p> 
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add"> 
   <div data-fuse="22560828227"></div> 
  </div> 
 </div> 
 <p><strong>Also Read: Why is Crypto Crashing Down Today?</strong></p> 
 <h3 class="wp-block-heading" id="h-bitcoin-historical-trend">Bitcoin Historical Trend</h3> 
 <p>Whenever there is indecisiveness, looking at historical trends gives a fair amount of clarity. So, let us delve into the monthly performance to understand where Bitcoin currently stands on the path of <a rel="noopener noreferrer nofollow" title="recover" href="https://thebittimes.com/tag/recover.html">recover</a>y.</p> 
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div id="primisContainer" class="add"></div> 
 </div> 
 <figure class="wp-block-image size-large"> 
  <img decoding="async" width="1024" height="512" src="https://cdn.thebittimes.com/images/2023/09/01/717e9cbebd728c3a913ab1f2669100c2.webp" alt="" class="wp-image-110018" srcset="https://cdn.thebittimes.com/images/2023/09/01/717e9cbebd728c3a913ab1f2669100c2.webp 1024w, https://cdn.thebittimes.com/images/2023/09/01/717e9cbebd728c3a913ab1f2669100c2.webp 300w, https://cdn.thebittimes.com/images/2023/09/01/717e9cbebd728c3a913ab1f2669100c2.webp 768w, https://cdn.thebittimes.com/images/2023/09/01/717e9cbebd728c3a913ab1f2669100c2.webp 1536w, https://cdn.thebittimes.com/images/2023/09/01/717e9cbebd728c3a913ab1f2669100c2.webp 380w, https://cdn.thebittimes.com/images/2023/09/01/717e9cbebd728c3a913ab1f2669100c2.webp 550w, https://cdn.thebittimes.com/images/2023/09/01/717e9cbebd728c3a913ab1f2669100c2.webp 800w, https://cdn.thebittimes.com/images/2023/09/01/717e9cbebd728c3a913ab1f2669100c2.webp 1160w, https://cdn.thebittimes.com/images/2023/09/01/717e9cbebd728c3a913ab1f2669100c2.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: Roubler 
  </figcaption> 
 </figure> 
 <p><strong>Also Read: Dogecoin Averages +24% in Asian Hours but -15% During US Hours</strong></p> 
 <p>Historically, September has been the worst month for <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> assets. Since 2013, Bitcoin has closed in red 8/10 times. During the remaining two instances also, its returns were insignificant [2% and 6%]. Thus, with several gaps yet to be bridged, it does not seem like September 2023’s tale will be any different. </p> 
 <figure class="wp-block-image size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="502" src="https://cdn.thebittimes.com/images/2023/09/01/376ef9e19e11cc18df21aa6555dc65cc.webp" alt="" class="wp-image-110033" srcset="https://cdn.thebittimes.com/images/2023/09/01/376ef9e19e11cc18df21aa6555dc65cc.webp 1024w, https://cdn.thebittimes.com/images/2023/09/01/376ef9e19e11cc18df21aa6555dc65cc.webp 300w, https://cdn.thebittimes.com/images/2023/09/01/376ef9e19e11cc18df21aa6555dc65cc.webp 768w, https://cdn.thebittimes.com/images/2023/09/01/376ef9e19e11cc18df21aa6555dc65cc.webp 380w, https://cdn.thebittimes.com/images/2023/09/01/376ef9e19e11cc18df21aa6555dc65cc.webp 550w, https://cdn.thebittimes.com/images/2023/09/01/376ef9e19e11cc18df21aa6555dc65cc.webp 800w, https://cdn.thebittimes.com/images/2023/09/01/376ef9e19e11cc18df21aa6555dc65cc.webp 1041w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: Coinglass 
  </figcaption> 
 </figure> 
 <p><strong>Also Read: When Will Shiba Inu Reach 1 Cent?</strong></p> 
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add"> 
   <div data-fuse="22560828233"></div> 
  </div> 
 </div> 
 <p></p> 
</div> 
<div class="cs-entry__tags"> 
 <ul> 
  <li>bitcoin</li> 
  <li>btc</li> 
  <li>crypto</li> 
  <li>recover</li> 
 </ul> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/when-will-crypto-markets-recover-tbt61220.html">https://thebittimes.com/when-will-crypto-markets-recover-tbt61220.html</a></p>

When Will Crypto Markets Recover?

Daftar Isi

TheBitTimes

Artikel lain yang dipublikasikan pada 1 Sep 2023

Kava Chain Now Live on Fireblocks, Opening Cosmos DeFi to Institutional Investors

Binance's Asia-Pacific Head Departs Amidst Market Share Decline and Regulatory Pressures

Chainlink (LINK) Investors In Shock As Whales Abandon Ship Mid-Crash, But Here’s Why You Should B...

PG Stock Forecast: Is (NYSE: PG) Price Capable To Rise More?

IBM proposes ideas for digital euro implementation

zkPass Pre-alpha Testnet Opens for Public Testing

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!