Cryptocurrency analytics firm Alphractal has just announced what it believes will be a new low for #Bitcoin❗ # in the coming period.
According to Alphractal, the $46,460 level could become an important support point for $BTC
Alphractal explains that this number represents the “Average Market Price,” an indicator that reflects the average price of Bitcoin on the network.
The indicator has proven its worth in previous moves, such as during the “China Dump” in May 2021, when it held support for two months and helped the price reach a new record high.
According to Alphractal, demand for #Bitcoin❗ has dropped sharply since March 2024, and market makers may be trying to lower the price.
Therefore, the Actual Average Market Price is an important metric to track. The company also recommends using the Dollar Cost Averaging (DCA) strategy to track this metric.
