Bitcoin Flashing Signals Major Bottom, According to Economist Alex Kruger

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Bitcoin Flashing Signals Major Bottom, According to Economist Alex Kruger

One widely tracked economist says bitcoin is shining a signal that has historically marked a bottom not just for BTC, but for all asset classes as well. Alex Kruger told his 139,200 Twitter followers that he is closely watching the total volume of bitcoin, which covers both the spot and perpetual markets across all exchanges.

According to The Economist, many bitcoin investors surrendered weeks ago after total volume of BTC printed a new all-time high. According to The Economist, many bitcoin investors surrendered weeks ago after total volume of BTC printed a new all-time high. The Economist highlighted that the total volume of BTC tracks the number of coins that change hands rather than being denominated in US dollars.

According to Kruger, the amount denominated in BTC makes it comparable over time. While Kruger says that BTC may already be in the process of a downside move, he notes that the major digital asset is unlikely to rebound anytime soon.

Bitcoin has been bouncing around the $6,000 mark for the past few months but there is little to suggest it will go higher. In fact, along with some signs of a major bearish trend and a nasty downtrend in price movement, bitcoin could be setting itself up for another fall.

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