Bitcoin [BTC] investors should read this before making investing decision

Bitcoin recorded a sluggish performance this week, with the crypto’s 7-day chart mostly painted in red. The aforementioned depreciation ignited several speculations in the market regarding what is to come next. As always, the crypto-community’s opinions are diverse. While some believe a trend reversal might happen in the coming days, several reports suggest otherwise. At […]

“When a bear market starts, most people continue to buy without realizing that it’s a bear market. But if the bear market lasts for a long time, most people get tired and stop buying.”’s price . For instance, Bitcoin supply in profit hit this month’s lowest level on 28 August after moving south since mid-August.Moreover, the MVRV Ratio also declined, suggesting a bearish market. This might just be a good opportunity for investors to buy.

As the previous trend suggests, this can be a good opportunity for investors who are aiming for long-term returns.A look at BTC’s 4-hour chart confirmed that the bears have the upper hand in the market, as the majority of the candlesticks were red. The Bollinger Bands suggested that BTC’s price was in a high volatility zone. These might soon lead to a price crunch, thus minimizing the chances of an uptick in the short-term.

According to the MACD reading, the blue line was approaching the red line, which might lead to a bullish crossover in the coming days. Additionally, ’s total number of addresses with non-zero balances pictured steady growth over the months. This, despite its price performance – A sign of investors’ trust in the coin.Subscribe to get it daily in your inbox.

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