The economist closely believes that Bitcoin (BTC) may form the market bottom after a deep correction that exploited the level of $ 78,000.
Alex Karager Recount The leading Crypto assets on the social media platform X 206,200 are running on the X social media platform, if the Bitcoin bottom, will soon return to $ 92,000.
It also says that the bear trap will be confirmed if Bitcoin recovered $ 92,000 as support.
“The bear trap” is when the price decreases sufficiently to persuade the bears to sell or move before reflection quickly in the opposite direction of their locations.
“BTC has lost its previous range with a wide margin. If this is actually, it is expected that up to $ 89,000-92,000 dollars, then returns to $ 80,000 again to fill a new range. More than $ 92,000 have a bear trap. Good year for active traders still at the forefront.”
Economic also He says There are likely to be multiple factors that contribute to the intense correction of Bitcoin, but it is believed that the main encryption assets are still in the emerging market cycle.
“Notice some confusion behind this encryption driver. There were multiple variables in playing. It is better not to try to find one criminal.
On the encryption side:
- [MicroStrategy founder Michael] Silor blows fully 2 billion dollars in one sitting at $ 97500.
- The explosion is driven by [leading to] Infection.
- BTC Multi Month Range Breakdown.
On the macro side:
- The definitions are more aggressive than expected.
- High inflation expectations.
- Swimming growth, partially driven by reducing public spending, definitions, and some economic data points (fear does not correspond to inflation expectations).
Ironically, the American economy is in very good. Growth, around full employment, with inflation goes to a decrease. However, the market may have reached the bottom overnight.
Even if it’s not so, I find it very difficult to see this as the beginning of the long bear market. “
Bitcoin is trading for $ 85,312 at the time of writing this report, an increase of more than 5 % in the past 24 hours.
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Disclosure: The views expressed in Daily Hodl are not an investment advice. Investors must do due care before making any high -risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trading on your own responsibility, and any losses you may bear are your responsibility. Daily Hodl does not recommend buying or selling any encrypted currencies or digital assets, and Hodl Daily Andersor is an investment. Please note that the daily Hodl participates in dependent marketing.
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