Analytics / Forex and Crypto News
As a result of the recent escalation of volatility, Bitcoin reached $15800, but then the price declined to $14500 on some trading platforms.
After that, the cryptocurrency was able to partially recoup and again exceeded $15000. At this level, the volatility again weakened, however, the price of Bitcoin rose to $15700.
Miners were one of the players who provoked increased pressure on BTC. They took part in the latest cryptocurrency sell-off, analysts from the CryptoQuant team previously reported.
Now the pressure has eased, and many traders fear that Bitcoin's consolidation could take a long time.
Traders pay attention to the alarm signal, which indicates the entry into the phase of consolidation. It can be long-lasting and last for days or weeks.
Moreover, the subsequent aggravation of volatility will lead to a rollback of the cryptocurrency. At the lows, BTC will be able to gather strength and move on to growth.
Consolidation is a sign of weakness, and as a rule, it ends with a fall in the value of the asset. According to the trader's forecasts, Bitcoin may be trading in a narrow range over the next few days and even weeks.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov