Analyst: For the first time in history, Bitcoin approaches halvening in a bearish trend
IN then while bitcoin price continues his decline and approaching to the $ 8 level 000, analysts are starting to pay attention to the bigger picture. Until halvening remains yet about six months, but Willie Wu believes that the market is waiting for the first time in history when this bitcoin event will do in a bearish trend.
Halvening has never followed a bearish trend, miners already surrender by adding volumes from sellers. Historically, we were ahead of the bullish scenario and the miners surrendered only after halvening, when their receipts declined. it unique layout. Quite bearish on the eve of the event itself “, – writes is he.
“I expect significant growth volatility. The short-term trend is bearish. That’s all I can say. Don’t expect the market to behave like previous halvenings. Fundamental factors are different “, – adds is he.
The upcoming halvening will be the third in history bitcoin, but the first in the conditions of the availability of futures contracts, which proved to be a tool for opening short positions on regulated markets.
Crypto Dog Analyst Believes Not the last competition between miners plays a role in current events: “Bitcoin miners are motivated to keep the price low in order to crowd out more small businesses. Halvening will cause a major uplift, but who will be left when he finally will come?”