Brace yourself: Bitcoin could crash to $31,000 soon
Investors looking for a possible bullish reversal in Bitcoin’s (BTC) price will have to wait longer, as an analyst is projecting further downside. According to Ali Martinez, Bitcoin’s historical behavior, when compared to the current price movement around the realized price-to-live ratio (RPL), signals a further drop below the $50,000 mark. He made this projection in an X post on September 7. It’s worth noting that the RPL ratio is used to identify potential price tops and bottoms. The metric considers Bitcoin’s realized price and liveliness, a measure of the movement of long-term versus short-term holders. The outcome is used to generate insights into prevailing market sentiments. Picks for you ‘September Effect is in full bloom’ as ‘US jobs disappoint,’ warns finance expert 21 mins ago ...