Bitcoin’s [BTC] mid-term recovery depends on these break-even areas


16 Sep 2023 2:30 AM

Bitcoin’s potential to rise above $30,000 would depend on the $27,500 to $29,000 break-even zone. But short-term holders may not have a say....

  • Bitcoin's MVRV ratio indicates bullish potential for the long term.
  • Short-term holders are at a disadvantage due to lack of confidence in the market.
  • Bitcoin's potential to rise above $30,000 depends on breaking the $27,500 to $29,000 zone.
  • The longer Bitcoin stays below $27,500, the longer it may take to recover.

The overall sentiment of the article is positive, highlighting the potential for Bitcoin's long-term growth. However, there is also a warning about the risks associated with Bitcoin remaining below certain price levels.

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You May Ask

What is the MVRV ratio and how does it relate to Bitcoin's market value?Why does the bullish long-term picture not apply to short-term holders?What price range is crucial for Bitcoin to rise above $30,000?What are the risks associated with Bitcoin staying below $27,500?

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