10xResearch: Bitcoin Due for Adjustment Despite Long-Term Optimism
CryptoNewsTerminal Staff01 Sep, 2024
10xResearch: Bitcoin Due for Adjustment Despite Long-Term Optimism
## Bitcoin's Bearish Trend Persists According to 10x Research, a cryptocurrency market analytics firm, Bitcoin (BTC) remains in a bear market technically and fundamentally. The analysis highlights that BTC has exhibited a pattern of V-shaped rebounds after monthly declines in May, July, and August. However, the recoveries have been sluggish due to weakening market structure and technical indicators. ## Short-Term Adjustment Expected In the short term, 10x Research anticipates continued adjustment for BTC. Despite this, the firm maintains an optimistic outlook for BTC in the medium to long term. The analysis suggests that a correction is underway before the next significant upward movement. ## Previous Related News [Insert previous related news here, if any]
