Crypto Market Analysis Today.

forum forex

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Sep 23, 2021
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The price of Bitcoin, the biggest cryptocurrency on the market, is currently down by around 9% over the past 24 hours.

It is sitting around $43,429, according to Coinmarketcap, compared to its highest ever level of more than $64,000 in April.

The second biggest cryptocurrency, Etheruem, has also dropped in value in the last 24 hours along with other popular coins like Dogecoin, Cardano and XRP.

Cryptocurrencies are highly volatile, meaning their values often make large swings with no notice.

On the other hand, China strengthened its anti-crypto stance on Friday, torpedoing bitcoin’s two-day winning run.

The People’s Bank of China (PBOC) said bitcoin, ether and stablecoin tether do not qualify as legal tender and cannot be used in the currency market.

The central bank declared all virtual currency-related activities illegal, including derivative transactions and overseas virtual currency exchanges serving Chinese residents.
 

forum forex

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Sep 23, 2021
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Friday’s Crypto-Market Breakout Caused Massive Short Covering, May Be Technically Significant: FSInsight

Notable technical breakouts made by some cryptocurrencies on Friday led to “massive short covering and futures short liquidations at the highest level in over a month,” according to a report by FSInsight, a markets strategy and research firm.

Bitcoin, solana, ether, litecoin and XRP all advanced more than 8% in the early hours of Oct. 1, gains that looked to be technically positive as prices rose above the weekly highs in addition to one-month downtrends, FSInsight said.

Short covering occurs when investors who are positioned short – that is they’ve sold assets betting on further declines – are forced to cover their bearish bets by buying in the market as prices rise, leading to further gains.
 

forum forex

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Sep 23, 2021
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Brutal Bitcoin Bear Markets a Thing of the Past, Says Crypto Investment Giant CEO – But There’s a Catch

The CEO of crypto investment firm Pantera Capital says that brutal Bitcoin bear markets where BTC plummets over 80% are now a thing of the past.

In a new edition of the Blockchain Letter, Dan Morehead says that Bitcoin has entered the post-halving era and no longer follows the extreme volatility of previous market cycles.
Do you think same?
 

forum forex

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Sep 23, 2021
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Bitcoin Analysis today

Bitcoin-U.S. dollar are a bit weaker in early U.S. trading Tuesday. The market is now seeing some routine "backing and filling" in an existing uptrend. The Bitcoin bulls still have the solid overall near-term technical advantage. There are no strong, early chart clues to suggest a market top is close at hand. That means more price upside is likely in the near term.
 

forum forex

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Sep 23, 2021
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The notoriously volatile Bitcoin has surged 109% this year, peaking above $65,000 earlier this month. Yet, some crypto watchers believe the digital coin will climb even higher.

The cryptocurrency sector is worth approximately $2.6 trillion, globally, and it’s finding fuel from venture capitalists, who poured $5.5 billion into it in the first half of last year only to come back and pump in another $17 billion in the first six months of 2021.
 

Roharim

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Nov 1, 2021
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I don't think it's worth worrying about Bitcoin, especially now that almost all people in the world prefer this payment system. Even Meltem Demirors, director of strategy at CoinShares, said that bitcoin is more stable than the US dollar. This means that the state understands its losing position and, accordingly, tries to do something about it. All bitcoin falls are related to external factors, but this only strengthens it! Look at the statistics, after a strong fall, bitcoin usually takes off immediately. 66 thousand bucks is not the limit, so I advise you to study bitcoin and [URL deleted] bitcoin tumbler in order to invest in it and not lose your money. I wish you good luck!
 
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forum forex

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Sep 23, 2021
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Bitcoin Continues to Look Bullish.

The Bitcoin market pulled back a bit on Monday only to test the $60,000 level. This is a large, round, psychologically significant figure, and a lot of people will be paying attention to it. Furthermore, you can see that we have a bullish flag marked out on this chart, and I think it is likely that Bitcoin will continue to launch higher. The flag measures for a move towards the $85,000 level, so at this point in time I think that is the longer-term target for Bitcoin.
 

forum forex

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Sep 23, 2021
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Bitcoin Price Rises Yesterday.

Yesterday, Bitcoin rose by $ 2,500. As a result, its quotes consolidated above the Ichimoku cloud in the four-hour timeframe, which indicates that the upward movement will most likely continue. The analysis clearly shows that the "bullish" trend continues and there is no reason to expect its end in the long term. In simple words, the price rebounded from the critical line a couple of days ago and can now return to its historical highs and update them.