December 5, 2023

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Bitcoin rises above $28,000, has the “rise” begun?

Bitcoin rises above $28,000, has the “rise” begun?

Bitcoin (BTC) started October strong with a significant increase, but is this growth reliable? In my new video I will discuss this question in depth, along with analysis of other cryptocurrencies such as Solana (SOL), and financial markets such as the S&P 500 and the Dollar Index (DXY).

Is Bitcoin price forming a “Bart Simpson pattern”?

With the current rise in Bitcoin price, we will face several strong resistances that must be broken to achieve further upside. There is speculation about the possibilityBart style“, a pattern that often shows a rapid rise in prices followed by an equally rapid decline.

Furthermore, we look at the relationship between Bitcoin and traditional financial markets. In particular, we look at the S&P 500 Index and the Dollar Index to understand their potential impact on the price of Bitcoin. Despite Bitcoin’s recent rise, the S&P 500 has remained relatively stable, suggesting that the correlation between these markets is currently weak.

Bitcoin starts to rise with an increase

Another interesting point mentioned in the video is “Topper arrives“Trend. Historically, October tends to show positive results for Bitcoin, and the question is whether this trend will continue this year. The video shows that September, a traditionally red month, was surprisingly green this year, suggesting that seasonal trends It may change.

Want to learn more about encryption?

At Bitcoin Consultant you can get very educational courses about Bitcoin, blockchain technology and how to invest in it. I even offer one for this purpose Free course For beginners! I also have a company page on our website where you can read more about his services.

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