Bitcoin Price Prediction: Here’s Why BTC Is Failing to Move Above $30k
The largest cryptocurrency has according to on-chain insights from CryptoQuant “been lodged within a narrow corridor for the past three months.” The on-chain analytics platform claims that the answer lies in the protocol’s fundamental factors such as supply and miner activity. advertisement While we will explore Bitcoin’s fundamental position in a bit, BTC is still feeling the pinch of an aggressive bear camp – down 1% to $30,005. Trading volume is up to $14 billion with its market capitalization holding at $582 billion. The largest altcoin appears to be following in BTC’s footsteps, down 1.6% to $1,898. As discussed in the previous Analysis , Ethereum price must reclaim $1,900 support to keep the resumption of the uptrend above $2,000 intact. What’s Next if Bitcoin Price Loses $30,000 Support? The Bitcoin price consolidation in a narrow rectangular pattern, as shown on the daily chart reveals that th...