The crypto community does not expect Bitcoin (BTC) to rise due to the current negative cycle.
Looking at BTC's price performance over a four-week period, the crypto king managed to soar above $20,000, sparking hopes for a recovery despite this year's bearish market conditions.
But this is not the right time for investors to buy the digital asset because the market price shows a fall.
According to Crypto Quant data, the market's continued decline has made short-term investors less interested in buying BTC.
However, when BTC is in a sideways situation, investors tend to buy the digital asset as its price may rise immediately after the sideways pattern ends.
On the other hand, most investors will rush into selling cryptocurrencies if there is a BTC price decline situation.
Therefore, new investors have a slim opportunity to earn short-term profits.
Currently, the price of BTC is rising around the $19,900 price level after experiencing volatile fluctuations.
Analysts expect the price of BTC to likely rise even though macroeconomic conditions show the crypto market to be unfavorable.
The financial market is expected to experience a severe downturn in the near future as traders in the stock market believe that a recession has arrived.
Recently, the United Nations also warned several central banks, including the US Federal Reserve (Fed) regarding the risk of recession.
