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$13K Bitcoin price predictions emerge with BTC falling below historic trendline By Cointelegraph

(BTC) costs broke beneath a long-standing assist wave that was instrumental in conserving its robust bullish bias intact after March 2020’s crypto market crash.

Dubbed the 50-week easy shifting common, or 50-week SMA, the wave represents the typical worth merchants have paid for Bitcoin over the previous 50 weeks. Over time, and in 2020, its invalidation as worth ground has contributed to pushing the Bitcoin market into extreme bearish cycles.

Bitcoin worth breakdowns beneath 50-week SMA by historical past. Source: TradingView
Bitcoin internet place change throughout all exchanges: Glassnode
Bitcoin MVRV has reached its September 2020 low. Source: CryptoQuant

Proceed Studying on Coin Telegraph

Source: Investing


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