What's the next direction for BITCOIN?

The world’s biggest cryptocurrency Bitcoin (BTC) is now trading above $43,500, up for the second consecutive day. One of the main reasons why the Bitcoin price has struggled in the past few months on prospects for higher interest rates and tighter financial conditions. Bitcoin dropped below $34,000 on Jan. 24, 2022, marking the lowest Bitcoin’s price has been since July 2021. It has fallen 50%, from a high of almost $70,000 in November 2021. However, the BTC eventually started reversing up after sticking above the support for two weeks.

What’s the next direction for BITCOIN?- https://gulfbrokers.com/en/whats-the-next-direction-for-bitcoin

Hopefully the bear trend is finally over and we will see another rally.

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This was an interesting read. :thinking: I’m still hopeful that things will pick up mid 2022, despite possibly tighter monetary policies. :thinking: But should it drop some more, I’ll probably still buy. :sweat_smile:

I’m thinking sideways, and then up and then down, and then more down, and some up, some sideways.

Ha! Follow some of the technical chartists on Twitter to get into the weeks with historical chart patterns, S/R levels, trendlines, etc.

The worst case, you still don’t know and you’re where you started; the best case, you become aware of the levels that active market participants are watching and you can see after the fact how much the market respects those levels or how much the market just does whatever the hell it wants to do.

I suspect cryptos will be going up this year, what with institutions embracing them so widely. Even the NY Stock Exchange (NYSE) announced it has officially applied to register as marketplace for NFTs, crypto products, and metaverses. The exchange filed with the US Patent and Trademark Office on the 10th February for a trademark license that would allow it to launch the aforementioned products.

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There’s definitely something different in the air, even just this early into 2022. It’s a shame the markets are down, because there’s been so much adoption from large and enterprise level businesses. DeFi is still growing, and while regulation is increasing lock-step, that’s a good sign in my opinion! Now we just need sentiment to change to the positive!

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The markets got hit hard by the Russia and Ukraine conflict, unfortunately. It can’t be helped. :frowning:

BTC looking good so far though. But who knows for how long…

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15% in the last week. What a wild ride! $52K here we come. Can we break through?

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LOL. Maybe if we don’t talk about it, it will.

Back to 38k my friends!

$45k and a selloff. Perhaps yesterday was a new higher low and this week we’re in the green. Crossing fingers.

In the current situation when there is a war going on between Ukraine and Russia, it is very difficult to predict anything about the future of bitcoin. I hope we get to see a rise in the graph by mid 2022.