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What does it mean for Bitcoin to peak (Has Bitcoin bottomed out)?

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What does it mean for Bitcoin to peak? What does it mean for Bitcoin to peak? T

What does it mean for Bitcoin to peak (Has Bitcoin bottomed out)?

What does it mean for Bitcoin to peak? What does it mean for Bitcoin to peak? The price of Bitcoin has reached its lowest point since the end of 2017. After experiencing a bull market, it is now entering an upward trend again. Based on the current market, the price of Bitcoin is expected to reach $17,500, and it has already reached the threshold of $18,300 today. Moreover, there is still room and potential for further increase compared to the historical high!

So, what kind of trend will Bitcoin have from this perspective? Let’s take a look together below:

Has Bitcoin bottomed out?

According to CCN, Bitcoin’s decline has not led to an overall bearish sentiment in the market. At present, BTC has appeared to be oversold. If investors have enough confidence in the recent price trend, the price will rebound below $10,000. However, there are still doubts about whether Bitcoin has bottomed out or if this is just a short-term phenomenon.

In the last bull market, Bitcoin made multiple attempts to break through $10,000 and successfully stabilized above $11,200. But it ultimately ended in failure. However, it has not been able to achieve this goal now. From a technical perspective, it has reached the “bottoming” stage and is still rising. This trend still needs time to be confirmed, so we believe that the current market sentiment is still in a downturn.

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