Founder of CryptoQuant has reminded crypto community of what Satoshi Nakamoto wanted Bitcoin for
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Cryptocurrency trader and analyst Ali Martinez has published a chart on which he showed the pattern Bitcoin is currently making and shared a forecast on what direction he expects the flagship cryptocurrency to go next. According to Martinez, BTC is now forming a Rising Wedge pattern, which often reverses and ends in an asset’s decline . Therefore, the analyst warns of a potential breakdown toward the $51,000 level even if Bitcoin could climb to the $56,000 or $57,000 level from the current trading point at $55,172.In an earlier published tweet, Martinez wrote that, amazingly, despite institutional investment in Bitcoin reaching a definite all-time high, market sentiment remains in the zone of “extreme fear.
BTC has begun to recover after the 18% plunge experienced at the start of the week. The flagship crypto crashed from roughly $60,000 and gone deep down below the $50,000 level on Monday. By now,to recover approximately 11% of the lost value and is changing hands at $55,253. Overall, the losses suffered by Bitcoin between Friday and Monday totaled almost 24% as BTC collapsed from the $65,300 zone.Yuri is interested in technology and technical innovations.
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