Can Bitcoin (BTC) Move Towards A New ATH Like Last Year?
Bitcoin (BTC) experienced sharp drops last year like this year and started to recover in July 2021, hitting a new ATH at $67,000 in October 2021. And then in November 2021, it hit a new ATH, reaching $ 69,000.
It seems like Bitcoin (BTC) is charting a similar chart right now. Like last year, it started to recover in July this year. Bitcoin, which was around $ 19,000 on July 13, is currently trading around $ 23,800. It seems to have gained almost 25% in value since July 13.
Bitcoin (BTC) is currently trading at $23,807. As in the previous year, it entered an upward trend towards the end of July. It's up about 8% today and around 24% weekly, according to data from Coinmarketcap. If Bitcoin can sustain this rise, it could move higher. If rejected, it could go back to around $20,000.
Last Year Chart
It is noteworthy that there are similarities between last year's chart and this year's chart.
If Bitcoin can continue its uptrend and the bulls can take more initiative, Bitcoin signals that it can move higher. If it continues to rise, especially the 30K resistance is psychologically very important. When it breaks this resistance, it can accelerate its rise even more. It may even hit a new ATH towards the end of this year. A new ATH may seem very difficult, but it should not be forgotten that Bitcoin has overcome many difficulties.
It's hard to know for now whether it's a dead cat bounce or the bulls are back. We will see this more clearly in the coming days.
This is not financial advice, In such sudden rises or falls, I recommend that you follow the markets well and do good research.
it's just my personal opinion, I think the bears are tired now and I think it's time to send them to sleep and say goodbye to the bear market. I'm curious about your thoughts on this, I would be very happy if you write it in the comments.
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Good question! I think we will be fluctuating for a long while … !PIZZA
Yes, it looks like we will be fluctuating for a while. I also think that extreme fluctuations can always happen by 2030.
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It is just crazy and interesting how the market moves, very unpredictable, I am enjoying the movement now lets see Bitcoin at $25K and then we take it from there.
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If it continues like this, we could see 25K this week. But most importantly, it looks pretty strong.
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Once we pass the 28-30k barrier we can breathe out and look north again. 📈
It will be very exciting for investors when it breaks these levels. Hopefully it will break these levels and the crypto market will revive.
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👍🏻 In my opinion it’s not the question IF it will but WHEN it will pass this barrier. Depends very much on macro situation (interest rates, inflation).
The same is true for all money markets. The increase in inflation and interest rates not only affects global markets but also affects people's lives. I think their rise will ease in the coming months. But the behavior of investors can change everything.
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The markets are unpredictable but there is a long way before it can even make a new ATH. So I tend to think it's a dead cat bounce.
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Uncertainty continues in the markets, this is a fact. But it may be time to recover. We'll wait and see.
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