This Indicator Predicts Potential Decline Ahead For Bitcoin Price

Bitcoin and crypto market is always swinging with changes in the prices of tokens. The back-and-forth movement in prices remains the distinguishing factor that facilitates the speculative nature of the assets. In some cases, the movement could be favorable for the investors, especially when the bulls are on the field. However, where the bears are at play, most tables are flipped upside down due to loss of funds and money. The first half of 2022 brought an extreme winter within the crypto market. The situation became more intense with the collapse of the algorithmic stablecoin, Terra, and its native token, LUNA. Related Reading: WATCH: Crypto Technical Analysis August 23, 2022: Ethereum Versus Bitcoin (ETHBTC) There have been losses of funds that run into billions of dollars for almost all the digital assets. Bitcoin and other crypto tokens seem to hold no track of their movement as they journeyed the southern route. However, entering the year’s second half created a new phase for the leading cryptocurrency. The price of BTC started to appreciate in July and even at the beginning of August. But the recent price growth is short-lived as the bears have again taken over the crypto market. During the past week, the crypto market witnessed more crumbling of most coins’ prices. The downtrend has been quite dramatic as the pattern keeps deepening as the days roll. This has led to a massive slash in the cumulative market ca...