Will Crypto Face Another Crash Due To Massive Sell Pressure? – Crypto News – Crypto News
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Will Crypto Face Another Crash Due To Massive Sell Pressure? – Crypto News

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3 years ago

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After the Dreadful 2018 crypto winter, the year 2022 marked the start of a new bear trend which was distinguished by the failure of prominent crypto businesses across the board. It was further accompanied by the precipitous decrease in the value of cryptocurrencies and the larger global market meltdown. This has now led to the dilemma of the crypto market’s direction for the coming year 2023.

Crypto To Face Crash Another?

After conducting extensive research into crypto exchanges netflow and historical indicators, a number of prominent hypotheses have been established by leading crypto analysts in the industry.

according to the date, the netflow will eventually become positive once it advances closer and closer to zero. This results in a lower number of buyers and a greater number of sellers. It is likely that at the same time that it turns positive, a local peak will be observed, followed by an increase in the amount of selling pressure on the futures market. This can lead to a continuation of the downward trend and the loss of support that is currently in place.

The “exchange netflow” is an indicator that gauges the total net amount of cryptocurrency that is moving into or out of the wallets of all centralized exchange, This metric can be positive or negative and the value is determined by subtracting the total amount of funds that were brought into the exchange from the total amount that was taken out.

Read More: MicroStrategy Sells 704 Bitcoins (BTC) For The First Time Due To This Reason

Has Bitcoin Price Bottomed?

As Reported earlier by CoinGape, the price of Bitcoin (BTC) is likely to drop much further given that the top cryptocurrency is not yet undervalued nor has it reached its bottom.

Furthermore, the degree of volatility seen in stablecoin inflows traded on spot exchanges has reached an all-time high. This suggests that Bitcoin might either begin a bull run or collapse to a new bottom in the near future.

As things stand, the price of Bitcoin is currently being traded at $16,532. This represents a decrease of 0.61% on the day, with a further decline of 1.85% during the week as per crypto market tracker. CoinMarketCap,

Also Read: Shiba Inu (SHIB) Price To Surge After Reaching This New Milestone?

Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now – he has seen it all.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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