NewsBTC - Crypto Analyst Breaks Down The Factors Behind The Bitcoin Price Decline
https://www.newsbtc.com/news/bitcoin/factors-behind-bitcoin-decline/
Crypto analysts have been weighing in on the decline of Bitcoin, with Nick noting that there wasn’t much going on in the news that could have affected Bitcoin’s drop except the US inflation data.
Nick analyzed key on-chain metrics that could have affected Bitcoin’s price, such as the number of active addresses, the amount of Bitcoin received and sent, and the number of addresses holding BTC.
Despite the decline in Bitcoin’s price, Nick is still optimistic that Bitcoin could end this month in the green, as October is reported to be one of the best-performing months for Bitcoin.
What do you think?
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