Expert predicts breakthrough after Japan!
The Bitcoin market is currently going through a weak phase. In the last 30-days alone, I've seen a 9.3% drop. Currently, the price of BTC is at $60,385.16 – well below the peak reached in mid-March. How long should Bitcoin investors wait to see a strong bullish trend? A recent revelation by a crypto expert indicates that the Bitcoin market may not have to wait long to see such a trend. What is the reason behind the mentioned vision? Let's see!
The impact of the recent Japanese stock market crash on Cryptos
On XPost, a crypto analyst known as Mustache compared the stock market crash in Japan to the Bitcoin price crash in 2020 (during the pandemic). He clearly showed the similarities between the two. From his comparative analysis using these two market crash scenarios, he predicted a bullish trend in the Bitcoin market by taking infras. He appealed to Bitcoin investors to be confident about Bitcoin's future.
Bitcoin Market Status: Comprehensive Analysis
The market is currently below the simple moving average of $61,745 and the moving average of $60,892.
The 24-hour BTC volume is only $143.111M. The highest amount for the month was $432.004m, which was reached on August 5, when the price tested the lowest point for the month at $53,987. The RSI indicator shows that Bitcoin may currently be neutral – neither overbought nor oversold.
Its RSI value is around 47.97 – just a few points below the 50 mark.
In conclusion, the details shared by the expert about the relationship between the 2020 BTC crash and the 2024 Japanese stock crash have definitely created a strong sense of hope in the minds of BTC investors.
Also see: Best Altcoins to Buy During Bitcoin's Temporary Slide
