Bitcoin price hit a new weekly high today, Sept. 27, 65, causing traders to send some bullish signals and successfully leveled above $20,000, prompting traders to now speculate on the price of Bitcoin. By October 31, ’65, we should see the Bitcoin price skyrocket.
According to a vote on CoinMarketCap, Bitcoin price is expected to rise as high as 13.18% from its current level to around $22,857 by the end of October. increased to $2,661 or about 100,000 baht
Expert trader in the crypto world, Michaël van de Poppe, revealed that the recent Bitcoin price breakout was partly driven by the volume of spot Bitcoin reds. in dollar
- “Bitcoin Price May Hit $23k, May Reach Long BTC and Short DXY”
“The uptrend will be between $20.7K – $22.9K, the downtrend will be between $20K – $19.3-19.5K.”
Bitcoin price fluctuates
Since June, Bitcoin has been hovering around $18,000 and $25,000 as the crypto market enters a downtrend after Bitcoin hit an all time high in November.
The crypto market has become a downtrend caused by the global economy too. And there have been many bankruptcies and business crashes in the crypto industry. Including the US Federal Reserve or the Fed raising interest rates to cope with inflation.
But the latest Bitcoin price has just started moving and has been very volatile since yesterday, Sept. 26, when the S&P 500 stocks were at their lowest point since this year. The share price has just started rising today. It is possible that Bitcoin price and stock price are moving in the same direction during this period.
dollar strength
During this period, the dollar appears to be strengthening. Compared to the dollar against other currencies, the dollar appears to be 18% higher in value.
During periods of high volatility in Bitcoin, a strong dollar is unlikely to have a positive effect on the Bitcoin price. It is possible that the Bitcoin price may have approached the bottom.
Source: LINK
picture : LINK