Bitcoin, the best-performing asset of 2023, recently dropped to a multi-month low of $25,300. Analysts on X (Twitter) have warned that the asset could fall further, potentially to $12,500. This could be determined by two metrics: the Volume Weighted Average Price (VWAP) and the Volume Profile Visible Range (VPVR).VWAP works similarly to the Realized Price metric as it determines the average price at which investors have bought their holdings. Currently, Bitcoin is still above the November 2022 VWAP zone.VPVR is a metric used for volume trading, which another crypto analyst believes is “very reliable” on certain occasions. If this metric is correct, Bitcoin could fall to $12,500. Special offers are available for those interested in trading Bitcoin.
| Information |
Details |
| Geography |
Global |
| Countries |
|
| Sentiment |
neutral |
| Relevance Score |
9 |
| People |
Jake Wujastyk |
| Currencies |
Bitcoin, Ethereum |
| Securities |
None |
