In the world of cryptocurrencies, it is important to stay up to date with the latest events and trends. One of the most popular and widely used assets - Bitcoin (BTC), and its pair with Tether (USDT) on exchanges, is the object of constant attention of traders and investors. Let's analyze the current situation on the BTC/USDT market and try to understand what prospects we can prepare for.
Closing the Weekly Candle #BTC : The first thing to pay attention to is the closing of the weekly candle. In this context, it looks bullish, meaning that the price of BTC has been rising throughout the week. This is an encouraging signal for investors, indicating strong demand.
Horizontal Resistance Level: However, it is worth noting that the bullish trend this week is not as strong as the previous one. This may indicate possible weakness in the upward price movement. An important point is BTC's attempt to break through critical horizontal resistance.
Possibility of Rejection: As stated in your query, there is a possibility of rejection, which means BTC may face resistance on its way up. This may cause a price correction and BTC may return to testing the said horizontal support level.
In order to better understand what development of events to prepare for, let's look at two key aspects of analysis - Technical Analysis (TA) and Fundamental Analysis (FA).
Technical Analysis (TA): TA is based on historical price and trading volume data. It helps identify trends and key levels of resistance and support. In this case, analysis of weekly candles and resistance/support levels is part of the TA. Technical analysis indicates an attempt to break resistance, but also cautions against possible rejection.
Fundamental Analysis (FA): FA involves the study of fundamental factors affecting the price of an asset. In the case of BTC, this could be a variety of factors, including news about regulation, institutional investments, technology updates, and others. FA allows you to better understand the fundamental persistence of price growth or decline.
How many Bitcoins are in circulation?
Bitcoin, with its limited supply of 21,000,000 coins, has always been a topic of interest for investors, traders and cryptographers. This cryptocurrency, created by Satoshi Nakamoto in 2009, is distinguished by its decentralization and unique emission system. Let's look at how many Bitcoins are already in circulation and how they are created.
Bitcoin Limited Supply: Bitcoin has a strictly limited maximum supply of 21,000,000 coins. This means that under no circumstances will the number of Bitcoins exceed this figure. This feature makes BTC a rare and sought-after asset, as well as attractive to investors seeking scarce resources.
Bitcoin Mining Process: New Bitcoins are created through a process known as mining. This is the process by which transactions are transmitted across the Bitcoin network and then miners compete to add them to the blockchain. Once a block of transactions is added, miners receive a reward in the form of new bitcoins, as well as a commission for the transactions themselves.
Mining Terms: Bitcoin mining serves two purposes. First, it ensures network security by protecting transactions from fraud. Secondly, it is a way to create new bitcoins and put them into circulation.
At first, the mining reward was 50 bitcoins per block. However, according to the "halving" principle, this reward decreases every 210,000 blocks, which approaches an approximate interval of 4 years. Currently the block reward is 6.25 Bitcoins and it will continue to decrease until it reaches the maximum limit of 21,000,000 Bitcoins.
Technical and Fundamental Analysis: Bitcoin supply analysis is a key component of both technical and fundamental analysis of the cryptocurrency market. Technical analysis allows traders to monitor changes in price and trading volume, identifying trends and possible entry and exit points into the market. Fundamental analysis, in turn, includes the study of factors affecting supply and demand, such as changes in the issuance of new coins.
Conclusion: How many Bitcoins are in circulation is an important question for anyone interested in cryptocurrencies. The limited supply and mining process make Bitcoin a unique asset with the potential for price growth. Technical and fundamental analysis help investors and traders better understand the current market situation and make informed decisions. But do not forget that cryptocurrencies are a highly volatile asset, and it is always worth assessing the risks before investing.
In conclusion, the BTC/USDT analysis shows the presence of a bullish trend, but also indicates possible resistance and correction. Technical and fundamental analysis can be important tools for investors and traders to help make informed decisions in the cryptocurrency market. Don't forget that cryptocurrencies are a highly volatile asset, so it's always worth doing your own analysis and considering the risks before making decisions. #Bitcoin #cryptousdua
