Beste Naz Süllü: Has Bitcoin gone under? Is ascension income?
Bybit Turkey Research Manager Beste Naz Süllü has used the following statements in her reviews in light of developments in the crypto money markets;
“Cryptocurrencies, which declined after peaking in November but compounded those declines since March, close this week on optimism. If we examine the data, it may even show that there is a bottom operation in Bitcoin in the $26,000-$27,000 region. Of course, this scenario would be supportive as long as there is no significant macro variable. According to chain data, the amount of bitcoin held on exchanges, miners and whales not selling are extremely important factors. In addition, bitcoin purchases from shrimp accounts to whale accounts continue. Accounts of 1000 BTC and above, which are the most important among these accounts and account for 27% of the market alone and 42% of the market cumulatively, started receiving a little less than $28,000. This tells us that the $26,000-27,000 range is the bottom after Bitcoin’s fluctuating price. In any case, Bitcoin accumulations can be supported by using the stop-loss level in these regions. A major downside to chain data is that investors are still selling at a loss (NUPL). This means future prospects are bleak and they are selling bitcoin for their cash needs or for various investment vehicles. While the market has yet to fully recover from the LUNA event, it has failed to test the pre-LUNA levels of $37k-38k. Therefore, we believe that there will be reactions to the pre-LUNA levels as the $34,000 breaks through.” Beste Naz Süllü
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