In recent days, Bitcoin has shown a good degree of bullishness. CoinGecko reports that Bitcoin’s price has increased on a daily and biweekly basis, suggesting that the market may be recovering from FTX’s fall. Investors at large were also optimistic.
The BTC bottom is still in effect, presenting excellent chances for long-term investment. There was little gains with hash ribbon despite the occurrence of a golden cross (chart below), as the price remained unchanged. Also, there is a 50/50 chance of a decline in the market to at least $16.950.
Dan Lim, an analyst at CryptoQuant, has made some recent comments that could signal the beginning of a bull market. First, he pointed out that Bitcoin’s MVRV value is extremely low, almost identical to previous market bottoms.
Next, the price of hash has not increased since the golden cross was supposed to be achieved, hence the hash ribbon has failed. Is BTC’s price about to stage a comeback? If not, is there more suffering in store?
Bitc
We współpracy z: https://newsbtc.com/news/bitcoin-price-up-5-in-last-7-days/
