Don't Be Happy Too Early, Bitcoin Has the Potential to 'Bleed' Back!


 Lately, the price of the mother of all cryptocurrencies Bitcoin (BTC) managed to make a climb, but it is likely to make a fall again if the bear market returns even though the weekly gain reached 9%.

The streak, the digital asset is expected to see a decline in the short term even as BTC investors expect its price to soar.

It is also understood that BTC is showing great liquidity at the $21,400 zone which has the potential to be a resistance level to make another decline.

As such, investors are expected to prepare to sell their BTC in order to make some profit when the price declines.

It is even reported that there are investors who transferred a large amount of BTC into the exchange in a short period of time, namely 21 and 17 BTC.

Meanwhile, BTC saw high capital flows after most investors started showing keen interest in the BTC derivatives market.

Therefore, stablecoins have recently been sent to the exchange so that investors can open selling positions or make a profit while the price is in a state of correction.

As of this writing, BTC is currently hovering in the $20,519 price zone in the past 24 hours having reached a monthly high of $20,988, making a 14% increase from the monthly low range of $18,400.

However, investors must watch closely whether the digital asset will break through the $21,000 price level before the weekend as it will hit a new monthly high soon after the sideways movement ends.