• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
bitcoin crypto bear market selling
Nexo Logo

Bitcoin Bearish Sell Pressure Is Waning Despite Aggressive Selloff

Tony Spilotro by Tony Spilotro
2 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3 mins read
Advertisement

Bitcoin may appear to be on the brink of total collapse as coronavirus fears shake up markets, but trading volume tells a very different story.

According to the volume profiles of each the greater bear market and the recent downtrend from the June 2019 top, selling pressure has been subsiding and it could signal “good times” ahead for the crypto market.

Bitcoin Sell Pressure Dwindling As Time Progresses

Most people first heard about Bitcoin and cryptocurrencies during the meteoric rise of 2017 that turned into a full block bubble once retail investors caught wind of the astronomic riches being generated by early investors in the emerging asset class.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Valuations of Bitcoin and altcoins like Ethereum, XRP, Litecoin, and many others skyrocketed.

But retail FOMO caused the bubble to expand to epic proportions and eventually the bubble popped.

Related Reading | Bitcoin Bounces Off Buy Zone, Accurate Crypto Analyst Says Its Time to Hold 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Those that showed up late to the party go left holding heavy bags. Altcoins are still down by over 80% or more in most cases.

Bitcoin itself fell to as low as $3,000 before going on another strong rally, but failed to set a new high and ultimately fell back into another downtrend.

However, both the greater extended bear market and the more recent downtrend following the June 2019 top, have begun to wane in sell pressure, according to one crypto analyst’s take on a reduction in sell volume throughout the last two years.

Red volume bars are shrinking in size over time, and the analyst claims that this is a single that “good times are almost upon us.”

$btc

Sell pressure on both longer term and current bearish cycle is subsiding.

The good times are almost upon us. pic.twitter.com/Ps70jHHUP6

— Mr Parabolic (@iLiquidatebots) February 28, 2020

The Great Times That Once Were in the Crypto Market

Those good times that the analyst is speaking of, would be another bull market, much like what happened in 2017.

Back then, crypto investors were making money hand over fist, with altcoins popping off and going on thousand percent rallies.

Bitcoin went from under $1,000 to over $20,000 in a year’s time.

Cryptocurrencies were put on the map in a big way, and the world hasn’t been able to forget about them since.

Related Reading | Bitcoin Bull Market Hangs in the Balance of Just One Line 

Since then, the landscape has changed, from a once hidden underbelly of the internet, used for purchasing drugs and weapons on the dark web, to major tech companies like Facebook considering building a cryptocurrency of their own.

Although markets are indeed cyclical and history often repeats, his time will likely be very different. Crypto is much more widely known now and could result in a far larger bubble than the last time around. Alternatively, the fact that so many got burned in the last bubble, it could result in a less powerful bull run.

Featured image from Shutterstock
Tags: Bear marketbitcoincryptovolume
Tweet123Share207ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

Related Posts

World Of Women, screenshot from the website

Blue Chip NFTs 101: The World Of Women Collection, Including And Conquering

4 hours ago
crypto bear

Leading Crypto Exchanges See Negative Funding Rates, Have The Bears Taken Over?

6 hours ago
bitcoin

Why Bitcoin Could Return To $28,000, But By The End Of 2022

7 hours ago
$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

10 hours ago
bitcoin bear

New Bitcoin Record Paints Incredibly Bearish Picture As BTC Struggles At $19,000

12 hours ago
Bitcoin

Why Bitcoin Could Collapse Another 50%, Says Michael “Big Short” Burry

12 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Crypto To Add The Best Gains To Your Portfolio For Bull Market: Gnox (GNOX), Cronos (CRO) And NEAR Protocol (NEAR)

July 1, 2022

U Promise Me: The Digital Promise Platform

July 1, 2022

XT.com Lists Land of Fantasy (LOF) With USDT Trading Pair

July 1, 2022

LYOTRADE Launches Crypto Loans—Get USDT and Win Against Volatility

July 1, 2022

Torches Genesis NFT Launching, Win Torchlight NFT to Unlock IDO Allocation

June 30, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.