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    QONEQT in Bitcoin

    03-Oct-2022 06:23 AM


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    So what if Bitcoin price keeps falling! Here is why it’s time to start paying attention

    For bulls, Bitcoin’s (BTC) daily price action leaves a lot to be desired, and at the moment, there are few signs of an imminent turnaround.

    Strong risk-off sentiment due to the possibility of a U.S. and global recession.

    BTC/USD weekly chart relative strength index.

    TradingView In my opinion, the chart speaks for itself.

    Source: Glassnode Looking at the chart, when compared against Bitcoin’s price, the current 0.127 MVRV Z-Score is in the same range as previous multi-year lows and cycle bottoms.

    As shown on the chart below, when investor confidence is high, but BTC price is low, the risk to reward or Bitcoin attractiveness versus the risk of buying and holding BTC enters the green area.
    Source: Cointelegraph
    #Bitcoin