USDJPY
EURUSD
Crypto
Metric suggests Bitcoin has been in a bear market for 2 months
Key Takeaways (30s Read)
Bitcoin has been predicted to have been in a bear market for the past two months.
Bitcoin is analyzed to have been in a bear market for the last two months. This assessment comes from Julio Moreno of CryptoQuant, based on Bitcoin's realized price and past performance. Moreno forecasts that Bitcoin will bottom out between $56,000 and $60,000 by 2026. As a result, traders need to closely monitor price fluctuations in the upcoming months. Historical data from the year shows high volatility, indicating that caution is necessary for short-term trades. Market participants must evaluate whether Moreno's predictions are accurate as they assess the overall direction of the Bitcoin market. However, specific price levels or support lines are not mentioned, making the analysis a critical indicator for Bitcoin.
AI Analyst
AI Opinion
"The ongoing bear market for Bitcoin, as highlighted by CryptoQuant’s analysis, holds significant implications for investors. Particularly, with the forecast that Bitcoin's low will be between $56,000 and $60,000, market sentiment and pricing strategies could experience shifts. Given this prediction is based on historical data, it will be essential to also consider the impact of the upcoming halving expected in 2024, which might change future trends. Furthermore, in a highly volatile market environment, short-term traders need to strengthen their risk management strategies. Overall, investors should reassess their trading strategies based on a combination of technical analyses and fundamentals."
RECOMMENDED BROKER Trusted Broker
Maximize This Opportunity.
Turn AI-detected market inefficiencies into profit with industry-leading specs. There's a reason pros choose Exness.
Raw Spreads
0.0 pips~
Leverage
Unlimited
Execution
Instant
AI Market Analysis Team
Combining advanced AI algorithms with professional trader insights. We analyze market drivers 24/7 to provide objective trading scenarios.