Bitcoin Slips Below 200-Day SMA, Presents Dual Price Potential

Quick Summary:

In the last two years, Bitcoin (BTC) has produced a strong positive price performance gaining by over 300% since the start of 2023.

In 2024 alone, the crypto market leader has surged by 40% notably reaching a new all-time high of $73,750 in March.

Albeit, in a situation where Bitcoin’s stay below the 200-day SMA becomes longer, the analyst predicts such development could initiate a bear market for the premier cryptocurrency.

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Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets: Hungary

Topics: Bitcoin price prediction Bitcoin Bitcoin Bitcoin Bear Market Ali Martinez BTCUSDT Btcusd

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-18 @ 19:00:36 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 402 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22126546

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 6 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 11 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #105

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