BTC Market Update || 07 December 2023
Assalamu Alaikum friends,
Bitcoin has seen bullish movement for the past 2 weeks. This is a good sign for the crypto market. After killing the bear market for almost 2 years now the bull market is going to start. In today's blog I will share complete bitcoin market update. Hope you like it.
Bitcoin halving is still about 4 months away and as the halving time approaches, the price of Bitcoin is gaining. Many doubted whether Bitcoin was actually bullish. Others thought it might be a bull trap. Bitcoin continues its bullish movement by proving everyone's speculations wrong.
Bitcoin started pumping from around $35,000 and is now hovering around $44,000. Although there is a weak resistance at $38,000, Bitcoin did not have much difficulty in breaking it. Very easily break this support and move up side and start moving forward.
And currently there is a big resistance at $46k. If Bitcoin can break this resistance within the next 1 month then we can see Bitcoin at one of its highs. However, before the halving, Bitcoin may be in the $60,000 to $70,000 range. For now we may see mild dump due to market retest. However, this dump will not be a serious dump, only to retest the market.
Note: All the information mentioned above is my personal opinion. Don't invest based on my info. Do your own research before investing.
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Hopefully, Bitcoin breaks the $46k resistance and pumps further. Thanks for your top notch analysis.
It is hard to predict the market's next move exactly but I believe in the current situation it is in the crucial phase. Bitcoin has shown a significant price movement in the last couple of weeks and now if it moves away and touches 50K USD Mark then we can expect even more price appreciation.
I still expect a correction sometime in early next year but again nothing can be predicted absolutely correct. Thanks for sharing the insight about the Bitcoin market and it is helpful.