29 February, 2024



Long-term Forecast for Bitcoin Is Bearish.

1 year ago

22 Nov, 2023

Data from CryptoQuant shows that the Exchange Inflow CDD, which measures Bitcoin inflows into spot exchanges by long-term holders, has recently seen a slight increase. This is consistent with a general downtrend in the market, and investors should not be tempted by any current rise. We are likely to see continued declines until the market completes its negative cycle. 

Long-term holders, however, continue to move their coins in and out of exchanges. This suggests that they may believe that the market is near the bottom and are looking to buy on any further declines. As always, investors should remain cautious and do their research before making any investment decisions.

The recent increase in Exchange Inflow CDD suggests that long-term holders are actively moving their coins in and out of the market. This may be an indication that they believe that the price of Bitcoin is nearing a bottom and are looking to buy on any further declines. However, as always, investors should remain cautious and do their research before making any investment decisions. 

Ultimately, the price of BTC will be determined by supply and demand factors in the broader market, and no single indicator can predict its trajectory with certainty. As such, investors should continue to monitor market developments closely and carefully assess the risks and potential returns of any investment before making any decisions.

What does technicals suggest about BTC? Bearish

The bearish sentiment seems to be dominating the market, as evidenced by recent price declines and bearish indicators like the Exchange Inflow CDD. However, some analysts believe that there may be light at the end of the tunnel for BTC investors, and continue to hold out hope for a future price recovery.

Source: Tradingview

The RSI, MACD, and other technical indicators seem to be painting a bearish picture for BTC at the moment. Many analysts believe that there is still more room for price declines before we see any meaningful recovery in the market. However, others are holding out hope that the bottom may be near and that investors can start buying back into BTC soon.

The SMA seems to be strongly suggesting a bearish outlook for BTC soon. However, as with any market, nothing is certain and investors should remain cautious when making any investment decisions. Only time will tell us whether or not BTC will experience a sustained recovery in the months ahead.

Conclusion

In the end, no one can predict with certainty where the price of BTC will go next. As such, investors should remain cautious, do their research, and be prepared to make quick decisions based on market developments. And most importantly, they should not invest more than they can afford to lose.

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