A Storm Brewing: Bitcoin Pierces Ichimoku Cloud, First Time Since 2020

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A Storm Brewing: Bitcoin Pierces Ichimoku Cloud, First Time Since 2020
Eduardo Próspero by Eduardo Próspero
 2 hours ago

After an action-packed weekend, the dust is settling.  Opinions vary; news and rumors are abound. The data seems to suggest turbulent times ahead. According to some exchange’s data sets, Bitcoin pierced the Ichimoku Cloud. What does this mean?

To make sure we’re getting everything straight, let’s recapitulate.


Weekend Of Wonders In Bitcoin
The Bitcoin network’s hash rate fell by half following a series of blackouts in China. Which should make us think about centralization. Also in the Asian market, a single wallet sold 8K BTC. Plus, fear took over when an anonymous account said that the U.S. Department of the Treasury was about “To charge several financial institutions for money laundering using cryptocurrencies.” This, of course, didn’t happen.

On Sunday, a drastic fall saw Bitcoin going from $60K to $51K. That generated liquidations worth over $10 billion in futures positions, a new record that almost doubles the previous one. And, about 90% of those, were forced liquidations on long positions.source

[TomPluz]

Nothing shocking to me. This is the same cycle that Bitcoin is always known for. After some incredible jumps, there will be a big dip and for that to happen there will be FUDS. Sadly, the market seems to be receptive to FUDS these days, as if we have not yet learned the lessons of the past many years. Anyway, I don't understand what Ichimoku cloud is, all I know is that it is cloudy here in my location due to the typhoon that failed to make a landfall. Good luck to all Bitcoin holders and supporters.

[Rehan Zakir]

I think this is a normal movement of market. The pumps and dumps are the part of a market. So don't be panic and sell your coins. Just hold your coins, market takes time to recover.
Market does not move on a single direction. Market has both bearish and bullish moves. So, must follow the trend and then take a trade.

[Richard_1]

Bitcoin has always been very volatile and, accordingly, any events in the world concerning, directly or indirectly, influenced its price. And also world politics, and even the statements of large investors, will influence the bitcoin rate. In connection with these events, panic sets in, which is reflected in market prices.

[Gravatai]

I would not say that this is shocking news, such power outages in China and a drop in hash rates occur quite often and Bitcoin has always remained afloat. Yes, there is a problem of centralization, but as the number of investors and small holders of Bitcoin grows, its decentralization will grow. Therefore, the situation in the field of cryptocurrencies is improving every day.

[Rt Kal]

Bitcoin is always very volatile and accordingly any event in the world directly and indirectly affects its price.  And world politics and even the rhetoric of big investors will affect the bitcoin rate.  And in relation to these events, it becomes a panic that is reflected in the market prices

[Fenix]

It seems that the higher the price of bitcoin rises, the more its volatility will manifest itself. It's good that the domino effect didn't work. After all, the panic could only increase. Bitcoin holders have a lot to lose at such a high price. Obviously, most bitcoin holders already have some experience that allows them to cope with possible panic thoughts. However, will it continue to be so, especially if the negative news turns out to be true and more serious.