Data Signals On BTC Chain Beginning of Bear Market, When Will BTC Hit $64K Again?

The flow of bitcoin exchanges from whales has skyrocketed in recent days, especially on June 21, 2021, marking the beginning of a possible bear market. Famous financial cycle expert Charles Nenner predicted that the all-time Bitcoin price of $64,000 will not be closed for long. Bitcoin Exchange Entry Sudden Increases Amid Pressures In China Chinese crypto firms, already suffering from crypto mining regulations, have been brought to tears by the PBoC, the Central Bank of China, as it has banned almost all banking services for crypto branches. While crypto miners in China have no choice but to set up their operations elsewhere, the same is true for any other crypto company. The price of Bitcoin, already suffering from a market-wide correction, fell further after this announcement made the headlines. Source: CryptoQuant As the chart suggests, news of China's banking ban has boosted whale sales and the flow of Bitcoin to exchanges. Bitcoin whales have been buying dips in the last few dips, but price action seems to have shifted in favor of the bears during this new dip against the big money inflow. Famous geopolitical and financial cycle expert Charles Nenner, in his comments on Bitcoin Price, said, “I do not have a higher price target. We may have another bullish cycle, but I don't think the top ($64,000) will last long. That's not all, since the Bitcoin ETF was ruled out in 2021, the price of Bitcoin seems to be falling faster than expected. Michael Burry, known for his forecasts during the 2008 financial crisis, also supports the downward trend. Big Short Fam Hedge Fund Manager Predicts Worst Market Crash Will Start With Never-Before Losses BTC On-Chain Data Signals Start From Bear Market, When Will BTC Hit $64K Again? It first appeared on Coingape.

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