RATE Group | Bitcoin Indicator Suggests Money Flowing Into Market: Price Bounce Incoming?
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Bitcoin Indicator Suggests Money Flowing Into Market: Price Bounce Incoming?

01 Dec Bitcoin Indicator Suggests Money Flowing Into Market: Price Bounce Incoming?

Posted at 21:53h in Cryptocurrency News by

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For some reason or another, bearish sentiment has swept the Bitcoin market; now, you have countless cryptocurrency investors calling for another 80% decline in the market capitalization of digital assets.

Despite this harrowing sentiment, an analyst has asserted that the proverbial crypto ball remains in favor of the bulls from a long-term perspective. Popular analyst CryptoThies noted in a recent tweet that taking a look at the monthly Bitcoin chart, it may be illogical to be bearish on cryptocurrency.

Backing his point, he looked to the Chaikin Money Flow indicator. The Chaikin Money Flow (CMF), Investopedia says, is an oscillator that is derived from a trend indicator MACD to signal market strength.

Thies noted that the CMF is “suggesting that smart money is just now flowing into the market and is trending upwards,” indicating that the cryptocurrency could begin to bounce and form a positive trend heading into 2020.

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