Bitcoin’s Next Move Could Create a Liquidation Cascade Like “Dominoes Falling”
One analyst is now explaining that he believes this next movement will be crucial for determining which direction BTC trends next, as it could create a cascade of liquidations. Bitcoin Likely to See Another Cascade of Liquidations Once Sideways Trading Bout Resolves
At the time of writing, Bitcoin is trading down marginally at its current price of $9,220.
One analyst is now noting that Bitcoin’s next bout of intense volatility could create another cascade of liquidations. While looking towards some striking similarities between Bitcoin’s current price action and that seen when it was trading around $6,000, it does appear that this next move may favor bulls.