On-chain data suggests Bitcoin price discounted, but analysts caution against expecting a rapid recovery.
As we know that these times the line shows the unstable line
It seems down fall many times
Some people are start to think to change their coins
Since day one, bitcoin seems like anyone’s favorite coins
A lot of investor put their high hopes on that coins
And in some times, bitcoin shows a good possibility to trust
A moment ago, Terra LUNA drops to the lowest line ever
Many people stressed out, because of course its hard for the investor to let their coins go in one time.
What about bitcoin next journey? Do the coins will follow Terra Luna steps?
Of course we don’t hope so.
Sadly, on may 12 bitcoin drops to $26,697
Marking the lowest price level since 2020
Multiple metrics suggest that the current levels could represent a good entry to BTC.
Some people think that BTC will fall below the realized price should the current bear market conditions persist
And if so, how long it will last?
On-chain data shows that many crypto holders cann’t resist the temptation of acquiring Bitcoin below $30,000,
Resulting in a spike in accumulation beginning on May 12 and continuing through May 15,
But some analysts caution against taking this as a sign that a rapid recovery will occur from here.
As previous condition that fall down line is the signs for upcoming upline
Analysist hope so.