Let’s take another look at the Bitcoin market and what the charts are showing. The Bitcoin market is currently in turmoil.
Some expect the entire market to crash, and some believe that the best bet is for the market to rise (against the crowd).
Bitcoin Lightning Network
Let’s start with the first big news about Bitcoin Lightning network development micro strategy.
🔥🔥🔥 “MicroStrategy Hires #Bitcoin Engineer to Build Institutional Lightning Platform 👀
The new hires are tasked with building an enterprise-grade SaaS platform based on #Bitcoin and the Lightning Network for e-commerce and cyber security. “
Dave Twitter Opinion
“This correction is beginning to drag on…”
Smart Money / Dumb Money Confidence
“There’s a big difference between trusting smart money/dumb money.
Smart money fills, stupid money sits. Who will be the right one?”
How to Trade Bitcoin ???
Crypto Total Market Cap Exclude BTC and ETH
#Total3 MCAP still gives a clear picture of what’s to come.
We are still in the “reverse”, the depression point, which of course will take longer, but also provides the greatest buying opportunity. Breaking out of the marked level and entering the “disgust” phase fully confirms this.
Ohhh nooo, at least bitcoin is crashing too. Moon.
Timothy Peterson Bear Market
Bitcoin Market and RSI
Potential monthly divergence 😱😱😱
Oliver L. Velez about Bitcoin
So it is, think from a global point of view.
Bitcoin Drawdowns from Prior All Time High
“It might make sense to just take some in case it takes root.”
— Satoshi Nakamoto
Investors are Selling British Pounds and Euros
JUST IN: Investors are selling their Pounds and Euros to buy Bitcoin in record numbers - Messari— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) October 1, 2022
Bitcoin Market Santiment
“On September 30th, 34,723 coins left the exchange, which may indicate traders’ confidence in Q4.
The last time BTC left the exchange was on June 17th, where the price was for the next four weeks. It’s up 22%.”
BTC: ATH Drawdown
Bitcoin price drawdowns from historical highs:
Bitcoin Monthly Returns (USD)
September is over, and now it’s time for green October 🙂
+20% average growth for October
Bitcoin 2019 vs 2022 | 2018 vs 2022
LTH Spent Output Profit Ration 7DSMA
On average, long-term owners continue to sell at a loss.
This is the normal cyclical behavior of a BTC bear market.
Will There Be a Bitcoin Rally?
Will There Be a Bitcoin Rally? While we wait, you can protect your Bitcoin investment with the most secure storage available.