{"id":640733,"date":"2023-04-23T20:13:33","date_gmt":"2023-04-24T01:13:33","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/04\/23\/mini-altcoin-season-on-horizon-predicts-glassnode-co-founder\/"},"modified":"2023-04-23T20:13:33","modified_gmt":"2023-04-24T01:13:33","slug":"mini-altcoin-season-on-horizon-predicts-glassnode-co-founder","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/04\/23\/mini-altcoin-season-on-horizon-predicts-glassnode-co-founder\/","title":{"rendered":"Mini Altcoin Season On Horizon \u2013 Predicts Glassnode Co-Founder"},"content":{"rendered":"
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The price of Bitcoin has fluctuated over the last few years and the price hit a three-month low of $18.9k\u00a0 on June 18, 2022, after Bitcoin experienced a more than 50% decline from its all-time high of over $69k in November 2021.<\/p>\n

After that, it briefly recovered to $45k before continuing to decline. Since then, the price has been unable to rise above the $20k\u2013$30k level, and market mood has remained uncoordinated.<\/p>\n

Yesterday, BTC fell around $29K in a matter of minutes. Many people expected a speedy recovery, but that hasn\u2019t happened yet. The market sentiment has changed, however, and the price is currently trading below an important level.<\/p>\n

Nevertheless, the cryptocurrency is unable to recoup the $28K, and it is clear that the bulls are fighting to recover the upper hand. It dropped roughly 9% during the past week.<\/p>\n

Twitter user Negentropic<\/a>, the co-founder of Glassnode highlighted certain indicators which signaled that the current\u00a0 bearish trend will continue.<\/p>\n

According to him, the recent decline in the price of bitcoin was a move that was predicted to test the price action, which was seen on the chart.<\/p>\n

The recent long squeeze from $30,000 to the lower $29,000 range, which triggered the liquidation of loan positions valued at $260 million in the prior days, is also discussed.<\/p>\n

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\u201cRisk Signal > 0 This usually leads to unstable\/bearish price action if it doesn\u2019t revert back to 0. Last time it led to a short alt season (Feb \u2013 March 2023).\u201d<\/em><\/p>\n<\/blockquote>\n

With the recent volatility, the Bitcoin Risk Signal is more than\u00a0 0, looking a little wobbly in the short term and suggesting that there might be a panic selling. The Fear and Greed Index moved back into a neutral position at 52 points after retreating from the greed zone.\u00a0<\/p>\n<\/div>\n

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No<\/span> Yes<\/span><\/h5>\n<\/div>\n
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Elena R<\/a><\/h3>\n

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\n Elena R<\/p>\n","protected":false},"excerpt":{"rendered":"

The price of Bitcoin has fluctuated over the last few years and the price hit a three-month low of $18.9k\u00a0 on June 18, 2022, after Bitcoin experienced a more than 50% decline from its all-time high of over $69k in November 2021. After that, it briefly recovered to $45k before continuing to decline. Since then<\/p>\n","protected":false},"author":1,"featured_media":640734,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44476,795],"tags":[],"class_list":["post-640733","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoin","category-season"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/640733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=640733"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/640733\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/640734"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=640733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=640733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=640733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}