Home Bitcoin NewsFinance News Trader Sentiments For Bitcoin ETF Are Down Due To Lack Of Positive Catalysts

Trader Sentiments For Bitcoin ETF Are Down Due To Lack Of Positive Catalysts

bitcoin ETF

For the ETF, the $200 billion cryptocurrency market is considered to be too small for the exchange.  The digital gold narrative is the new gold rush, and several controversial participants are joining the gold rush.

Analysts are predicting an exponential Bitcoin (BTC) move, and this might probably begin the following week.

Technically, a fractal is when the asset price is studied for a different time.  This is not a popular method of analyzing price action.  One eerily perfect fractal states that the recent bout of pain which the crypto market has been seeing will likely continue.   It is expected that the price of the Bitcoin will fall by 25%; eventually, the price will return to where it is currently trading.

Several models are proposed to explain the volatile movement in the cryptocurrency market. An exciting chart plotting pattern is about identifying the recurring patterns by plotting the mining difficulty adjustments along with the logarithmic price history of Bitcoin.

Yet another analyst noted that when there is a negative difficulty adjustment of more than 4% followed by a positive change, then a local bottom might form, and the bullish move will develop over the next few months.

This pattern, according to analysts, will occur during the beginning, middle, and end of various bull runs through a decade long history of Bitcoin trading. If this proposal is true further upside is in store for Bitcoin.

Traditional assets are performing well, and investors are not finding any new reasons to invest in crypto.  This is one reason that suppresses the price of the Bitcoin.

Jeff Dorman, CIO at Arca, an investment management firm, stated, “Volumes are low, no new money is coming into the ecosystem, and stocks, bonds, and gold are all up double-digits year-to-date which makes the non-crypto world lose focus.”

Trader sentiments are down due to lack of positive catalysts and trying to time it entirely seems risky.

Short-term and long-term moving averages are necessary to identify short-term and long-term MAs cross.  When the MAs cross on the upside, it is called a golden cross, and when it happens on the downside, it is known as the death cross. While these crosses are not always accurate, using them with other indicators can provide invaluable pieces of trading information to deal with the volatile asset class.

Analysts suggest tightening of trading ranges between 50- and 200-day moving averages could trigger a sell signal.  Mike McGlone stated, “The best way to describe the market is it’s retracing last year’s bear market.”

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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