The first and biggest crypto asset on the market, Bitcoin (BTC), has recently experienced a major price crash, however, according to experts, this is not yet the end of Bitcoin’s new massive bull run. Bitcoin price fell below the rising wedge and the digital currency is declining towards the area of around 9,500 USD. It is not predictable whether Bitcoin will be able to sustain the price at the current level or whether the price will go downhill even more. However, this is for sure not the finishing line for crypto bulls.
The current crypto asset price shifts have been largely influenced by market manipulation and whales and this is also the case for Bitcoin’s price decline. Big moves in short periods of time are not natural in the digital asset market and have been artificially created which makes investment in that particular digital currency riskier than usual. These price shifts are created to improve the interest of investors as well as the general public in digital assets for personal gain.
The decline of the price of Bitcoin below the rising wedge has been expected for some time. At the same time, before the value of the first crypto asset experiences a significantly negative change, it will most likely go up. There is also a small possibility, according to traders, that Bitcoin might face long-term negative consequences after this rise.
Looking at the daily chart of BTC dominance, there is no sign that the currency is gaining back its place in the market soon. Despite the crash, Bitcoin has seen far fewer losses than the altcoins nowadays. Whales, as well as other crypto enthusiasts, are getting ready for the Bitcoin halving to earn their money.