Bitcoin has seen some significant change in the past few weeks. The volatility rate of Bitcoin has been reduced and the price continues to remain on a stagnant stage.
Due to lower prices significant amount of accumulation can be made at this stage. Bitcoin accumulation can take place at the moment as the price is below $10,000. The data shows exactly the same as the accumulation is growing in the market.
However, at the moment, there is no bull market. No bitcoin halving is expected at the moment. Prediction says that Bitcoin price range can surge up to $1 million.
“Accumulation, mark up, distribution, and markdown. Investors accumulate large holdings of assets at lows, then prices surge during the markup phase. That’s when the early investors begin to distribute their assets, taking profit, and starting a markdown phase. The cycle then repeats all over again,” according to to Wyckoff theory.
Bitcoin has seen scarcity in accumulation in the past. But in a major surge when the price fell to $3,200 in December 2018 it was assembled more. This gives a clear indication that the price fall leads to major Bitcoin accumulation.
