BTC Is Facing A Breakthrough, Cautiously Chasing Up Popular Cryptocurrencies- Mar. 9th

According to analysts at Bexplus, bitcoin price has continuously rebounded below $55,000 in short-term, most mainstream cryptocurrencies have rebounded in short-term, and the rise of popular cryptocurrencies has increased by more than 20%. While paying attention to the breakthrough performance of BTC, be careful when chasing the rise of popular currencies.

From the perspective of market performance, BTC rebounded moderately, and the market performance was tepid. The number of short-term active addresses is obviously at a relatively high level, and the fluctuation space is small, which means that the trading activity of investors is not low. However, the number of new addresses of BTC has not increased significantly, indicating that BTC has not attracted more investors to enter the market.

At the same time, the number of BTC flowing out of trading wallets increased slightly, which is quite different from the net inflow of 37,000 BTC into trading wallets on February 21st.

Pay attention to the price range of BTC on February 21st from $55,484 to $58,326. The short-term BTC has not yet reached this range, so the real selling pressure may not yet appear. Therefore, short-term traders need to be cautious about BTC’s rising performance.

DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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