Trading veteran Peter Brandt says Bitcoin price can turn bullish under one condition
— Bitcoin spot price trades, Sign, 200 ema, Data, Underwaterexperts believe, Realized price, Analyst revealed — 1 min read
Average Bitcoin traders are now underwater as spot prices are 11.3% below the average purchase price. Experts believe the current crypto bear market is the worst one ever recorded. Bitcoin's ultimate bottom will be a ‘value zone’ for the asset, analysts say. Peter Brandt has identified a “big tell” in the Bitcoin chart that could confirm a bullish reversal for Bitcoin. At press time, Bitcoin dominance is 40.7% based on data from CoinGecko. Bitcoin price drop below 200-day EMA is an indicator of a bear market, analysts at Glassnode consider Bitcoin price’s drop below its 200 EMA an indicator. Glassnode published a report on June 24, 2022, titled “A Bear of Historic Proportions” Source