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Re: Just how bad is the bear demand right now
by
tjtonmoy
on 23/01/2023, 19:47:14 UTC
Bitcoin has been on a downward trend recently. The cryptocurrency market hit a three-month low of $18,432 earlier this week. CoinGabbar reports that the current price of Bitcoin (BTC) is $18,930, down 3.21% in the previous 24 hours. Since its price dropped recently, Bitcoin's share of the cryptocurrency market has shrunk. This means that Bitcoin now accounts for 41.02% of the total market cap of all cryptocurrencies.
Your data doesn't add up to the current price chart. As this post has been shared recently, the current price of BTC stands at around, $22,700 according to coinmarketcap.
The bear market is currently at a position where people have invested few weeks earlier, are making profits. But the bear demand is still high if you compare the recent price to BTC's All-Time High price which is $69k. It could be a bull trap or maybe an indication towards a bull market, who knows. The market is still unstable if you are trying to do tradings. So it is best to DYOR and focus on that collected data rather than collecting data from other websites.