UTC-05:00,Thursday , May 28th 2020

CoinNess Analysis: Bullish Market For BTC To Continue After Correction

01:09 Friday , February 14th 2020
Citing the Bitcoin (BTC) analysis of Jins, the in-house cryptocurrency analyst at CoinNess.com, looking back at the rebounding process of BTC, the correction has been made with greater intensity and a rapid decline, indicating the hold-up disks are selling out. The trading volume has reached the highest record of nearly $50 billion, indicating that after a large number of turnovers have been made by investors, the selling pressure of BTC is easing. As for the expected trend, the possibility of BTC maintaining heavy trading volume is still very high. Various indicators show that this trend of increasing activity has further strengthened.
The data from the BTC trading volume shows that BTC trades at the highest average level in the record, with a great basis for continued high activity. Therefore, it is predicted that BTC will increase the intensity of fluctuations with the heavy trading volume, and the price may continue increasing in a wide range of sideways trading.
Judging from the number of active addresses, BTC is already in a very significant phase of increasing. The peak of the number of active addresses for four consecutive times indicates that investors have higher expectations for the current market.
It seems that no matter how the BTC corrects in the short-term, investors will not be absent from trading at the low price, and the bullish market will continue after the correction.