Bitcoin Analysis As Markets Dwindle On The Precipice
Bitcoin Analysis As Markets Dwindle On The Precipice
Financial markets on the brink? Let's check in on bitcoin.
We interrupt your regularly scheduled bond market meltdown for a brief look at how bitcoin is holding up amidst all of the chaos.
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We start with a level that has only ever risen, bitcoin’s 200-week moving average. The average bitcoin price over a rolling 4-year period, the line below, has only ever risen. But as of late, its rate of growth has stagnated to its slowest ever—denoted in this heatmap by progressively cooler colors, purple being the coolest. This can also be expressed by saying that bitcoin’s 4-year average price is just about flatlining. This makes sense, considering the amount of time spent in the $20,000 to $30,000 range, which is also 2017’s former all-time high. This zone has been a magnet for bitcoin and mundane price action has been the norm. Slowing long-term momentum exhibited by bitcoin’s price: