This Is Why Bitcoin Could Be At Its Best Moment

Bitcoin BTC BTCUSD 980x483

Bitcoin is lagging behind Ethereum during this bull-cycle. The first cryptocurrency by market cap has been outperformed in the higher timeframes with an 18.2% profit and 2.1% loss in the weekly and monthly chart respectively. In the meantime, ETH pushed into price discovery with seemingly unstoppable momentum. BTC trades at $57,723 moving sideways in the 1-hour chart and daily chart, at the time of writing. However, the cryptocurrency could benefit from the attention set at Ethereum. During April, the BTC market was over leverage with many investors betting at short-term appreciation due to Coinbase’s debut in the public market. BTC moving sideways in the daily chart. Source: BTCUSD Tradingview When the cryptocurrency failed to meet the expectations, massive liquidations follow. Over $10 billion in liquidations were registered at that time and BTC’s price crashed all the way back to the critical support zone at $47,000. Data from Santiment shows that…

Read the original article here