Bitcoin market to lay in the Bearish soil for long

Bitcoin market to lay in the Bearish soil for long
(Source: Pixabay)

Bitcoin had noted tremendous growth in the first half of the year, however, that rise has been deeply impacted by the bearish market. The coin, recently on September 24, fell by a whopping 24% causing its price to slip under $9k and ever since Bitcoin has been struggling hard to make a recovery. At press time, Bitcoin’s price stands at $8,249.93 with a market cap of $148.55 billion.

Source: Coinstats

Source: BTC/USD on TradingView

Source: BTC/USD on TradingView

According to the indicators, Bollinger Bands, Awesome Oscillator, CMF, Parabolic SAR, and MACD, the Bitcoin market was predicted to continue its bearish run.