Bitcoin price nears final hurdle at $12K before bull market euphoria
The price of Bitcoin is nearing $12,000 once again, which may be the signal for the start of a massive new bull cycle. The price of Bitcoin (BTC) had to hold the crucial support level between $11,100-11,300, and it did. After this support test, the price of BTC continued to surge upward on Oct. 20, reaching the crucial resistance area between $11,900-12,200.This upward move came along with weakness in the dollar, as the U.S. Dollar Currency Index (DXY) dropped substantially. A correlation that’s been effective throughout 2020 already. However, other cryptocurrencies haven’t been following....
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Bitcoin has very few resistance levels left to clear before a new bull run is on, and the leading cryptocurrency by market cap returns to price discovery mode in search of its next all-time high. And while that break out into a bull market draws nearer with each passing day, so far, there’s no volume […]
Why this bitcoin price bull run could be the market cycle that takes us from gradually to suddenly reaching hyperbitcoinization.
After a turbulent few days, Bitcoin (BTC) has resumed its downtrend, currently retracing toward $111,000. This marks a 12% decline from its recent peak of $126,000, which raises concerns among market experts who suggest that the bull run may be closer to its end than many investors believe. End Of Bitcoin Bull Cycle Within Nine Days? On October 14, market analyst CryptoBirb, took to social media platform X (formerly Twitter) to assert that the bullish cycle is nearing its conclusion, stating that it may end within the next nine days. He referenced the Cycle Peak Countdown indicator, which....