Bitcoin and Ethereum price forecasts; Did the "bear" forces fail after prices fell by 75% from their all-time highs?!-semo news

 

 Bitcoin-BTC price forecasts maintained their balance below the $17,000 level during the early hours of the morning, December 23, in what is known as the Asian trading session; The decline in trading volume coincided with the lack of price fluctuations in the market in general, prior to the holiday season. The well-known cryptocurrency trading guru Benjamin Cowen recently stated that the bears (the bears) are now under stress with the BTC price losing more than 75% from its all-time high of over $69,000, which it reached last year. .

The main digital currencies are being traded differently during the day corresponding to December 23, after the total market value of digital currencies practically stabilized at $810.53 billion yesterday, while the total trading volume of the digital currency market increased by 12.46% to reach $28.94 billion during the day. last 24 hours.

          While the total trading volume in the DeFi decentralized finance sector amounted to about $1.63 billion, representing 5.64% of the total daily trading volume of the digital currency market, while stable currency trading accounted for 90.97% of the total trading volume of the entire digital currency market over a 24-hour period. Total amounted to 26.33 billion dollars.

  Likewise, the trading prices of Ethereum (ETH) also remained largely unchanged around the $1,220 level.

The bears are running out of steam after BTC prices fell 75% from their all-time highs

Cryptocurrency trading expert Benjamin Cowen recently said that the bears - who are called "bears" for short in trading markets in general - have lost their appetite after the price of Bitcoin (BTC) fell by more than 75% compared to the high an all-time historic level when its price exceeded $69,000 over the past year; The last Benjamin Quinn video clip, which was broadcast on a video-sharing site owned by Google, showed that the Bitcoin “bears” have lost their strength with the recent sharp decline in prices, as the bears are recalculating in terms of the possibility of potential profit or loss in light of the decline BTC supply percentage

In other words, what Coen said can be summed up as “as we sink deeper and deeper into bear market waters” according to the Daily Hodl, the Bitcoin bears (the bears) have cooled off with each new phase of the price decline; As the famous analyst stated: “Finally, the bulls (the bulls) offset the influence of the bears on prices.”

It is also worth noting his prediction that once BTC bulls (bulls) begin to take the lead in the market again, an “extended accumulation period” will begin for Bitcoin, with its prices gradually rising in preparation for a new bull cycle; Despite the huge and unprecedented market difficulties, he claims that the current Bitcoin bear market largely shares its characteristics with those that preceded it.

 Bitcoin price

Bitcoin-BTC price is trading at the time of writing at $16,838, with a total trading volume of $16 billion over the last 24 hours; As the currency maintained its first position in the list of digital currencies on CoinMarketCap, with a total market value of $323 billion.

Ethereum price

The price of Ethereum (ETH) is currently $1,222 at the time of writing, with a daily trading volume of $5.5 billion over 24 hours, during which the value of Ethereum has gained nearly 0.50%, to maintain its second rank on CoinMarketCap for the time being. , with a total market value of $149 billion.