Coinbase: Bitcoin bottomed out at $16,000 – Cryptonium News

Coinbase: Bitcoin bottomed out at $16,000

Bitcoin volatility has remained at a two-year low in recent weeks.
According to a report by Coinbase analysts, the largest digital coin could bottom out at around $16, 000 by the end of 2022.
The main reason for the bottoming out is the increase in unprofitable addresses on the network. This share was over 50% at the end of December.
BTC met at over US$16, 000 in 2023. The coin is about to approach US$17, 000 and could break resistance already in that area today.
Similar situations were observed in January 2015 and January 2018. Coinbase does not rule out a decline in the coming weeks, but it is unlikely that bitcoin will fall below US$16, 000.
At this stage, traders are not planning to increase their investments in BTC and data from BitinfoCharts indicates that their activity is weakening.
The average daily number of blockchain transactions fell to 187, 361 a day earlier, the lowest level since January 2022.
Santiment analysts noted a drop in activity last week. According to them, the sharp decline in transactions over $1 million indicates that January is unlikely to see any significant movement in bitcoin. All results not available for download. Repeated retries…