Forex BTCUSD has the potential to rise in early 2024

[Nite]

The increasing acceptance and adoption of Bitcoin by major financial institutions is a positive sign for its future value. The fact that Bank of America and Wells Fargo are now offering their clients the opportunity to invest in Bitcoin through ETFs shows that even traditional players in the financial industry are recognizing the potential of cryptocurrency. This news, coupled with the belief of some investors that Bitcoin could reach $100k, suggests that there is significant growth potential for Bitcoin in the future

 

[FXOchartist]

Even though some positive Bitcoin news supports Bitcoin's future growth, Bitcoin price fluctuations always go up and down in nature with high market volatility. High volatility apart from providing profit potential is also in line with the risk.
Although some investors believe Bitcoin could reach $100k. However, some are worried that Grayscale will sell Bitcoin which could impact BTC prices.

On Ticktrader FXOpen, the price forms a bearish candlestick with a long shadow at the bottom of the candle indicating price behavior. After a sharp decline, a long shadow appears reflecting a strong price rebound.

 

[FXOchartist]

Today Bitcoin's performance is worse than Solana's performance, where Solana's gain today is up 5.49% while Bitcoin is down 4.44% and Ethereum is down 5.23% in 24 hours. Solana/USD price volatility is high, providing the potential for profit and loss in the short and long term.
Today's Solana price performance is in the range of Low $165.41 and High $188.50, with ATH at $260.06 in 2021.

 

[Dita Walczak]

The market’s upward movement seems like it will go further above and will create a new resistance level. However, enjoying BTC trading with the FXOpulence broker because their crypto500 is the best trading instrument for crypto traders.

 

[Nite]

Solana is experiencing a significant uptrend in both price and popularity. The fact that it has surged 70% within just one month is impressive and shows the growing interest in this Layer-1 network. The media buzz surrounding Solana is also contributing to its momentum, as more people become aware of its potential. The Bollinger band technical indicator pointing towards a potential further increase in price above $200 is certainly exciting for investors and traders.

 

[FXOchartist]

Solana still gets higher gains today compared to Bitcoin and Ethereum. Today Bitcoin is up 2.95%, Ethereum is up 2.77%, and Solana is up 11.35%. This incredible, however good news is rumored that El Salvador will continue to buy 1 Bitcoin every day until BTC 'becomes unaffordable' with fiat currency could shift up Bitcoin price, as today Bitcoin tries to rise to $68K from a low $64k. But in H1 on my chart, Ticktrader FXOpen UK shows the BTC price consolidate near upper band line. If the Bitcoin dump continues, could price back down as this area could be a resistance zone. However, if the price breaks upside down, it could bitcoin continue to be a bull market.

 

[FXOchartist]

Bitcoin back moves in the red zone today. Bitcoin is down 2.06%, Ethereum is down 4.57%, and Solana is down 2.59%. The fear and greed index shows a value of 85, which means market extreme greed.

Bitcoin performance today is low at $66,594.23 and High at $68,897.13. Bitcoin's market capitalization is $1.3 Trillion, The Circulating supply has reached 19,657,950 BTC or 93.61% of the maximum supply of 21,000,000 BTC.

Bitcoin halving is expected to be April 2024. The current countdown is estimated at 32 days 22 hours 55 minutes according to Cointmarketcap data. Indecision market on BTC now. Some investors still believe Bitcoin will be bullish.

 

[Nite]

Bitcoin , Ethereum , Solana, and some others may be down today, it does not necessarily mean that they will continue on a downward trend. Market sentiment can change quickly , and there are many factors at play that can influence the price of these assets.

As for the upcoming Bitcoin halving in April 2024, it is still quite some time away and a lot can happen between now and then.

 

[FXOchartist]

Yes, it is happening, cryptocurrency is a highly volatile market, recently we have seen an average cryptocurrency decline, Solana, which before often gained higher than others, now sharper decline than others too. Bitcoin is down 6.85%, Ethereum is down 8.32%, and Solana is down 15.62%. The fear and greed index shows a value of 83, which means the market has extreme greed even though there is a decrease in points. Could the price decline to the $50k level price as a support area?

 

[FXOchartist]

Bitcoin price rebounded again and failed to reach the $50k support, even after touching the lower band line the price turned up again to reach a high above $67k. In the long term, maybe Bitcoin still has the potential to be bullish if you see the long-term MA forming an upward channel far below the price.

The strong rally did not only occur in Bitcoin, other digital assets such as Ethereum and Solana also rose high, as did gold which soared to form a new all-time high after the Fed's unchanging interest rates.

 

[Nite]

Bitcoin and the overall cryptocurrency market still have a strong potential for bullish growth in the long term. This is evidenced by the recent rebound and sustained upward trajectory , as well as the interest and growth in the other digital assets . As long as the underlying technology and demand for cryptocurrencies continue to grow , I believe we will continue to see a positive trend in the market.

 

[FXOchartist]

Yes, I think so, but the future cannot be predicted, it's just that looking at Bitcoin's current fundamental indicators, bullishness may be still the main analysis for many analysts. Especially after the Bitcoin ETF was approved by the SEC, but it is also necessary to pay attention to the Ethereum ETF, if this is approved by the SEC it might further boost crypto performance in the future. But if it is rejected, it might also affect the crypto market.
Today bitcoin fell again and failed to break the $68k level, the decline also occurred in Solana and slightly in Ethereum.

 

[FXOchartist]

On Saturday the crypto market remains open, the forex market closes on Friday, this is one of the advantages of the crypto market which is always live all day long. Today Bitcoin is still trading below the $68k level, at the time of writing the #Bitcoin price was around $64k seen on Ticktrader. The price fell to around $62k, but it still seems to have failed to penetrate the $60k support and the price rose slightly to $64k.
#Blackrock, an asset management company, launched its first tokenization fund on the #Ethereum blockchain. launched its first tokenization fund on the Ethereum blockchain.

 

[Nite]

It's interesting to see the continued volatility in the cryptocurrency market, with Bitcoin struggling to break through key resistance levels.
The fact that Blackrock, a major player in traditional finance, is now entering the world of tokenization on the Ethereum blockchain is a significant development. This move could potentially bring more institutional interest and legitimacy to the crypto space. It'll be fascinating to see how this new fund performs and how it impacts the overall market dynamics.

 

[FXOchartist]

Yes, it is an interesting development in the financial sector with investment managers using blockchain technology to connect traditional markets to digital markets. There are separate requirements for investment there.

Today saw Bitcoin mining difficulty has increase and reached ATH before the halving, Bitcoin mining difficulty has recorded its highest level of 83,947,913,181,362, a move that shows increasing interest ahead of the halving. While Bitcoin seems to be trying to climb again now at $67k, a break of the $68k level would probably push the price further bullish.

 

[FXOchartist]

After breaking the psychological level of $68k, Bitcoin price rose to the level of $70k today gaining roughly 5.01%. Fear and Greed index show value at 80, market is Greed against the crypto assets. A crypto analyst, Elitsa Taskova, Chief Product Officer at Nexo, thinks Bitcoin could soar to $100k if miners can increase their holdings without immediate sales. On the other hand, the price may fall to $40k if the mining facility is forced to liquidate assets for operational funding.

 

[FXOchartist]

Blackrock CEO Larry Fink warns about US debt which has the potential to destroy the economy. US debt is currently at an all-time high.
This condition might benefit the growth of digital assets such as Bitcoin which has a maximum supply. The cryptocurrency market may rise in such a scenario as investors move their money into the virtual currency industry.
Today's Fear and Greed index shows a value of 83, meaning market extreme greed. Bitcoin price traded at roughly $70k on Ticktrader

 

[FXOchartist]

JP Morgan analysts, led by global strategist Nikolaos Panigirtzoglou, warned that Bitcoin remains in “overbought” territory despite the crypto asset's recent decline in price.

JP Morgan analysts further warned that the recent slowdown in Bitcoin exchange-traded fund (ETF) inflows casts doubt on the market's optimistic predictions of a year-end price rise.

Bitcoin fell 1.43% today according to data from Coinmarketcap at a price range of Low $68,381.93 and a High $71,727.68.

On Ticktrader the price moves slightly above the middle band line and forms an indecision candle. Bollinger bands draw flat lines and narrow, indicating reduced market volatility.

 

[FXOchartist]

The price of bitcoin has still not moved from the $70k level, the consolidation movement in the crypto market is still continuing at this moment.
The price spike actually occurred in gold. Gold prices have broken through all-time highs and set a new all-time high yesterday at $2236.
Investors' concerns about the uncertain global economy may increase their interest in choosing gold as a safe haven.

 

[FXOchartist]

Bitcoin price still stucks at $70k, today crypto kings are down, and Bitcoin cash today seems to be going up. Bitcoin is down 1.65%, Ethereum is down 1.34%, and Bitcoin Cash is up 8.47% with a gain in 7 days of 46.46%. BCH is ranked 14th on Coinmarketcap. The bullish trend in Bitcoin cash prices is clearly visible on the Ticktrader FXOpen daily timeframe. It is known that Bitcoin Cash's all-time high price was 6 years ago at $4,355.62.