Bitcoin

Although the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency market</a> has been in a <a href="https://finbold.com/guide/bear-market-definition/" rel="noopener noreferrer nofollow">bearish</a> mood lately, <a href="https://finbold.com/crypto-market-sheds-20-billion-in-a-week-headed-below-1-trillion/" rel="noopener noreferrer nofollow">shedding $20 billion</a> from its market capitalization in a week, the uncertainty around Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) could be coming to an end, as suggested by a momentum indicator that points to the rate of <a href="https://finbold.com/guide/what-is-hodl/#Whale" rel="noopener noreferrer nofollow">whale</a> accumulation of the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset.As it happens, the Rate of Change (ROC) indicator for <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> has not climbed above zero since this time last year, indicating that the whales have been in accumulation mode and that it might be coming to an end, according to the <a href="https://twitter.com/TATrader_Alan/status/1656223015775141889" rel="noopener noreferrer nofollow">observations</a> of <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> chart analyst Trader Tardigrade shared on May 10.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/67a213b0dae04603b4e6ee39ce878b7f.png" />Bitcoin rate of change (ROC) analysis. Source: <a href="https://twitter.com/TATrader_Alan/status/1656223015775141889" rel="noopener noreferrer nofollow">Trader Tardigrade</a>Indeed, as the author noted, such a <a href="https://finbold.com/guide/chart-patterns/" rel="noopener noreferrer nofollow">chart pattern</a> setup, as observed in the previous years starting with 2015, suggests that a <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> rally might be in store for the maiden <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> asset in the near future:<blockquote>“Bitcoin Rate of Change (ROC) has been sitting below zero line for a year. This indicates the whales have been accumulating BTC, and it comes to an end very soon. When accumulation has completed, a BULL RUN follows.”</blockquote><h2 id="header-0">Bitcoin price analysis.</h2>As things stand, Bitcoin is currently changing hands at the price of $27,661, down 0.07% on the day, as well as decreasing 3.47% across the past week and 2.44% over the previous month, as per the latest data retrieved by Finbold on May 10.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/c797cb0057214d4f97caef40c2f87cac.png" />Bitcoin 30-day price chart. Source: <a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">Finbold</a>Meanwhile, the crypto community’s predictions for Bitcoin by the end of May are not so optimistic, projecting that the largest digital asset by market cap would continue to decline, reaching an average price of $24,753 on May 31, more than 10% lower than its current amount, as Finbold <a href="https://finbold.com/crypto-community-with-82-historical-accuracy-sets-bitcoin-price-for-may-31-2023/" rel="noopener noreferrer nofollow">reported</a> earlier.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>

Bitcoin whale accumulation nears end; Bull run to follow?

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