Having suffered a downward trend since early June, the Bitcoin price looks to be breaking out of its channel. Could this be the start of a new trend, or is this going to be yet another fakeout?
An end to the bull market?
The bitcoin price has been dogged with some quite difficult headwinds for the last few weeks. Among these have been long term holders taking profits, miners selling in order to remain profitable after the halving, and Wall Street hedge funds damping down the price with their “carry trade” strategy.
There have even been those on social media who have called for an end of the bull market, saying that the top was in at $73,800 and that $BTC has been rolling over ever since.
Is this likely? Very probably not. Bitcoin has had well delineated bull markets of around 3 years throughout its admittedly short history, and of course, things can always change, but with the institutions finally arriving, would this be the first bull market to be cut short?
$BTC chan
We współpracy z: https://cryptodaily.co.uk/2024/06/bitcoin-btc-breakout-or-yet-another-fakeout
