Analysts at Bexplus believe that during the BTC price correction period, the short-term decline will slow down. The fall in the price of BTC is well linked to the turbulence of the financial market. The cumulative price fluctuation has reached 26%, which has a great impact on investors. From the number of unconfirmed transactions, the unconfirmed BTC not only rose sharply but also reached near the highest level in history.
Numerically, the number of unconfirmed transactions on March 1st soared to a historical high, indicating that the number of transactions by investors was relatively high. This shows that the patience of investors’ currency holdings has obviously declined during the price fall.
In terms of trading volume, BTC continued to adjust for a week, and the trading volume showed obvious signs of shrinking. The current trading volume is similar to that on February 7th, indicating that the number of BTC bought and sold by investors has fallen in the short term. This can be understood as that most investors have begun to calmly look at market adjustments. If BTC can stabilize in the near future, it will only start after the contraction ends.
In terms of support, the price rose during the previous period on February 8th, and the support for BTC was strong. Short-term mainstream cryptocurrencies have risen simultaneously with BTC, and the rebound space deserves further attention.
Tag: xbt, btc market, market analysis, btc volume, oversold, retail transactions
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.