BTC Market Update || 05 October 2023

A bear trend has been ongoing in the Bitcoin market for about 289 days. BTC has not yet broken through this bear market and entered the bull market. But many have tried to change this trend. And failed every time he tried. Meanwhile, Bitcoin's halving time is approaching.

However, before the recent halving, the Bitcoin market performed very well. Its price was respectable. But this time till October 2023 it is different. Maybe in a few months, the whole picture may change. But it cannot be called anything other than just a prediction. Predictions are always 50/50. Maybe again maybe not. However, since Bitcoin has been at a good level many times in history, it can be assumed that it will be at a reasonable level again this time.

In the last 4-5 months, the Bitcoin down-trend has been halted but no upward movement has been observed in its value. Every time Bitcoin tries to go uptrend, it always returns to its previous value. Every time it tries to go into a downtrend, it always comes back to the previous price.

The highest price of Bitcoin in the last 24 hours was $28,120 and the lowest price was $27393. Bitcoin's 24-hour volume was $882 million. Which is much less than last week. And the Bitcoin market is on a downtrend on a weekly basis.

On the other hand, Bitcoin dominance only continues to grow. Bitcoin dominance is having its best time. As a result, there has been a major crash in the altcoin market.