Is BTC waiting for another massive decline? According to the historical trend, yes!
1 min readBTC raises many questions in recent days. There are more and more reports and analyzes that predict a decline. What he shows historical trend?
Will BTC reach another decline?
The historical trend suggests that we can expect another correction in the case of BTC. This is a 200-day and a 600-day moving average.
The analyst was the first to point out this issue in the portal’s contribution CryptoQuant. According to him, the price of BTC is basically compressed between the two mentioned indicators.
“The moving average (or MA for short) is an analytical tool that averages the price of BTC in any desired range. As its name suggests, this average is constantly updated. ”
The MA indicator is relatively useful for studying long-term trends, where it is not so necessary to pay attention to daily price fluctuations.
In the following chart we can see the trend of 200-day and 600-day MA BTC over the last few years.
During 2014 and 2018, after the new historical highs were reached, the price of BTC was pressed between the two mentioned indicators for a certain period. And it is at such moments, according to historical data, the BTC used to fall. Will we still see a declining trend now? If the two indicators intersect, this is highly likely.
