Yesterday(3/14 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $61280, its lowest as $59029, its highest as $61709, its closing as $59029. Bitcoin fell slowly after the start of Sunday, fell to $59,400 with a large sell volume at 11:15, then rebounded, but fell again, moving sideways around $60,000, and finally closing -3.7%.
During the week, btc rose 15.7%, and the dominance rose from 60.7 at the beginning of the week to 62.8 at the closing, giving the feeling of a single bull market for Bitcoin. Seeing that Ethereum has only risen 7% weekly, I guess that btc dominance hit the bottom and would rise.
Looking at the daily chart, it can be seen that the Bitcoin rise angle is reaching about 50 degrees. If we substitute the rate that rose from $32,000 to $58,000 due to Tesla's good news from February 1st, we can expect the next target price of about $78,000.
In order for Bitcoin to reach its target price, it would have to go through a lot of barrier(bad news). And there was news yesterday that India government will create a law that will impose fines just for trading and owning cryptocurrencies. In addition, news that the US SEC will investigate Binance, the current world's number one cryptocurrency exchange, came out last week. This is the most worrisome scenario for crypto market's uprising.
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Welkome
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