Over the past 10 days, Bitcoin (BTC) has been moving sideways, consolidating between $105k to $101k. But three recent developments hint BTC’s price may crash lower to $99k or lower. On May 17, the weekend, BTC trades at $103.3k after dropping 2.52% in the past 24 hours. Ethereum (ETH) and other top cryptocurrencies have also followed Bitcoin’s footsteps and registered a loss. Here’s Why BTC Price Eyes Crash to $99K or Lower In short, the reason for a bearish outlook on BTC price is due to Bitcoin’s technicals, macroeconomic uncertainty, and historical returns. BTC’s technical analysis shows weakening momentum that hints at a correction. Daily Active Addresses (DAA) & New Addresses joining the Bitcoin blockchain have decreased while price continues to ascend, showcasing classic sign of bearish divergence. Lastly, the uncertain macroeconomic conditions due to the US Federal Reserve’s policies have stirred the markets. Trump’s trade war has also caused… Read More at Coingape.com
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