Bitcoin

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/bitcoin-is-done-with-a-correction-but-a-steep-downfall-to-follow-dragging-btc-price-closer-to-28000/">Bitcoin is Done With a Correction, A Downfall to Follow Dragging BTC Price Closer to $28,000</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
It has been a few hours since the Bitcoin price slipped below the crucial $29,000 resistance levels and has been constantly failing to regain them. The month, which started with a huge plunge, is one of the highest drops in the past seven days. The <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> is barely moving as the volatility is very low. The volatility levels have been recorded as the second-lowest levels in history after December 2016.&nbsp; 
Previously, whenever the volatility dropped to such low levels, it resulted in a bullish breakout, with the crypto gaining more than 30% of its value. Hence, volatility is considered an early bull run activity that is building the foundation for huge spikes similar to those of 2015-16. However, the short-term analysis is pretty bearish and flashes the possibility of plunging close to $29,300 or lower soon.&nbsp; 
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Bitcoin broke out of the support zone between $29,140 and $29,000 a few hours ago. Hence, the price is believed to continue with its downtrend in the coming hours. The price may head towards the next support zone around $28,450 to $28,080 in the short term. However, the price received a huge buying volume in the past few hours, but still, the levels remained consolidated at around $29,000, failing to rise back to their previous levels.&nbsp; 
We have seen multiple bull markets in the past, but the upcoming one could be a different one. The crypto payment integration, which is most likely to happen, and the Bitcoin ETFs, wherein the SEC’s decisions are pending in March-April 2024, will bring mass adoption. As after each halving, the Bitcoin price has been rising by a huge margin, a similar bullish upswing is believed to begin after the next halving too.&nbsp; Therefore, it appears that the BTC price is in the early stages of a bull market and hence the price may go long in the coming days.

Bitcoin is Done With a Correction, A Downfall to Follow Dragging BTC Price Closer to $28,000

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