Now that Bitcoin has reached the channel’s lower trendline, an upswing toward its middle or upper trendline could be underway. These crucial areas of resistance sit at $66,000 and $70,000 respectively.
In an inflationary environment, assets like Bitcoin appear more attractive to investors. The BTC price rallied to a new all-time high on Wednesday.
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Investing is not a guaranteed way to make money, so make sure you know the risks and can afford to lose the money.
It’s unclear if the company will reach out to everyone but it’s important to remain vigilant.
Bitcoin hit an all-time high of $68,530.34 early Tuesday, according to CoinMarketCap. That's just a few weeks after it hit a previous high of nearly $67,000 before sliding as much as 12%.
Fig 4. Wavelet coherence scalograms between online factors and price (with GSADF test bubble overlay) for Ethereum and Monero.
Like traditional currencies, cryptocurrencies express value in units — for instance, you can say “I have 2.5 Bitcoin,” just as you’d say, “I have $2.50.”
But how high will Bitcoin go? Bitcoin’s past may provide some clues, according to Kiana Danial, author of “Cryptocurrency Investing for Dummies.”
It’s always hard to know exactly what is driving crypto prices given the opacity of the market and a certain rather large player whose name rhymes with weather, but we think it’s probably partly related to the same market madness that drove GameStop to da moon, as well as to a desire for an alternative to central bank-issued money due to worries about the government overreach (by means of Covid restrictions), and also endorsements from chief executives at the likes of PayPal, Tesla and Twitter/Square.
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It hasn’t been plain sailing — the firm lost $40 million and briefly paused trading last month following a “large scale” hack. Search x Dive Brief Binance.US CEO resigns By Robin Bradley Associate Editor Jack Taylor / Stringer via Getty Images
Dogecoin (DOGE) turned down from $0.29 on Nov. 8, indicating selling on rallies. The price has dipped back to the 20-day EMA ($0.26), which is an important support to keep an eye on.
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