Cryptocurrency
Bitcoin Indicator “Screams” Price Capitulation is On Horizon; Here’s Why
As reported by NewsBTC, “If you’ve been trading Bitcoin or been following the crypto news cycle, you’ve likely heard of the word ‘capitulation.’ Time and time again, this word, defined as ‘the action of surrendering or ceasing to resist an opponent or demand,’ has been used in the context of the cryptocurrency market, often to […]
As reported by NewsBTC, “If you’ve been trading Bitcoin or been following the crypto news cycle, you’ve likely heard of the word ‘capitulation.’ Time and time again, this word, defined as ‘the action of surrendering or ceasing to resist an opponent or demand,’ has been used in the context of the cryptocurrency market, often to describe a violent downturn.
“Just think back to the headlines seen in 2018, which mentioned the rapid Bitcoin price crash from $6,000 to $3,000 as an act of ‘capitulation’ by crypto bulls. In other words, ‘capitulation’ is reserved only to describe an extremely strong bout of downward price action.
“Thus, the fact that a cryptocurrency trader claims that capitulation is imminent for the BTC price should have some worried, or at least a tad nervous…”