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7 Reasons Why #BTC Will Fall to $32k (Part 1)
Hello everyone, I hope you're having a great day. In my previous post, I shared my thoughts on the market's health. In this post, I will provide seven reasons why I believe #BTC will experience a decline and reach $32k.
1. The market needs a period of consolidation to regain strength.
Similar to an athlete or a mountain climber, the crypto market, led by Bitcoin, often requires a moment to catch its breath before embarking on a new upward trend. Just like a climber needs to pause and recuperate after reaching a peak, Bitcoin needs a correction phase after hitting resistance at $48k to build up more liquidity and volume before aiming for new highs.
2. Decrease in Bitcoin's funding rates.
Since the $BTC peak in early January at $48k, it has been on a downward trend. According to CryptoQuant analyst, MAC_D, this trend may continue. He suggests that "to end the current bearish trend, a capitulation event needs to occur, involving massive liquidation of leveraged long positions."
These statements hold weight as, on January 2nd, Bitcoin's hourly funding rate reached 0.049%, indicating speculative long positions, but it then decreased to below 0.02% by the end of January.
If BTC does indeed decline, we may initially reach $38.5k, and if the downward momentum intensifies, we could approach the $32k level. This could present an excellent buying opportunity for long-term investors.
However, it's important to note that the market is unpredictable, and no one can accurately predict the future. I am simply offering these reasons to explain why BTC may drop to $32k for a more robust bull run.
#TradeNTell #Write2Earn.
Hello everyone, I hope you're having a great day. In my previous post, I shared my thoughts on the market's health. In this post, I will provide seven reasons why I believe #BTC will experience a decline and reach $32k.
1. The market needs a period of consolidation to regain strength.
Similar to an athlete or a mountain climber, the crypto market, led by Bitcoin, often requires a moment to catch its breath before embarking on a new upward trend. Just like a climber needs to pause and recuperate after reaching a peak, Bitcoin needs a correction phase after hitting resistance at $48k to build up more liquidity and volume before aiming for new highs.
2. Decrease in Bitcoin's funding rates.
Since the $BTC peak in early January at $48k, it has been on a downward trend. According to CryptoQuant analyst, MAC_D, this trend may continue. He suggests that "to end the current bearish trend, a capitulation event needs to occur, involving massive liquidation of leveraged long positions."
These statements hold weight as, on January 2nd, Bitcoin's hourly funding rate reached 0.049%, indicating speculative long positions, but it then decreased to below 0.02% by the end of January.
If BTC does indeed decline, we may initially reach $38.5k, and if the downward momentum intensifies, we could approach the $32k level. This could present an excellent buying opportunity for long-term investors.
However, it's important to note that the market is unpredictable, and no one can accurately predict the future. I am simply offering these reasons to explain why BTC may drop to $32k for a more robust bull run.
#TradeNTell #Write2Earn.
Market is overall bullish……& dips are the opportunity to buy
always remember; buy the red , sell the green A healthy Correction is a part of market ,
#HotTrends #sol #BTC #ETH #Write2Earn.
always remember; buy the red , sell the green A healthy Correction is a part of market ,
#HotTrends #sol #BTC #ETH #Write2Earn.
Bitcoin Spot ETFs Report Robust Growth: Combined Holdings Surge by 4,224 BTC on January 30
On January 30 (local time), data from LookOnChain reveals a collective increase of approximately 4,224 BTC in the holdings of nine Bitcoin spot ETFs in the United States. Notably, BlackRock's ETF secured an additional 4,603 BTC valued at $199 million, while Fidelity added 4,832 BTC, amounting to $209 million. Conversely, Grayscale's GBTC witnessed a reduction in Bitcoin holdings by 6,139 BTC, equivalent to $266 million on the same day.
#ETF #BTC #CRYPTO #Write2Earn.
On January 30 (local time), data from LookOnChain reveals a collective increase of approximately 4,224 BTC in the holdings of nine Bitcoin spot ETFs in the United States. Notably, BlackRock's ETF secured an additional 4,603 BTC valued at $199 million, while Fidelity added 4,832 BTC, amounting to $209 million. Conversely, Grayscale's GBTC witnessed a reduction in Bitcoin holdings by 6,139 BTC, equivalent to $266 million on the same day.
#ETF #BTC #CRYPTO #Write2Earn.
Popular companies that accept Crypto payments
Retail and Services:
Overstock.com: Accepts major coins like Bitcoin, Ethereum, Litecoin, Dash, and Monero for a wide range of products.Newegg: Sells electronics and accepts Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.Microsoft: Accepts Bitcoin for Xbox games and subscriptions.Shopify: Allows merchants on its platform to accept various cryptocurrencies through third-party integrations.Expedia: Accepts Bitcoin for booking hotels and flights on select platforms.Home Depot: Partnered with Flexa to accept payments in select stores through a digital wallet app.Twitch: Allows streamers to receive donations in various cryptocurrencies.
Travel and Hospitality:
Travala: Online travel agency accepting over 80 cryptocurrencies for booking hotels and flights.CheapAir: Accepts Bitcoin for booking flights.Destinia: Accepts Bitcoin for booking hotels and other travel services.
Luxury Goods:
Gucci: Accepts Bitcoin, Ethereum, and other major cryptocurrencies in select stores.LVMH: Luxury goods giant experimenting with accepting Bitcoin in some brands.OpenSea: NFT marketplace accepts various cryptocurrencies for purchasing digital artwork.
Food and Beverage:
Pizza Hut: Partnered with PizzaForCoins to accept Bitcoin for deliveries in select regions.Subway: Accepted Bitcoin in select locations in 2021, future unclear.Burger King: Accepted Bitcoin in Venezuela in 2022, wider adoption uncertain.
Technology:
Tesla: Briefly accepted Bitcoin for car purchases in 2021, but suspended due to environmental concerns.Paypal: Allows users to buy, sell, and hold select cryptocurrencies directly in their accounts.
Entertainment:
GameStop: Accepts Bitcoin, Ethereum, Litecoin, and Dogecoin for online purchases.AMC Theatres: Accepts Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Dogecoin for tickets and concessions.
#Write2Earn #Write2Earn. #cryptopayments
Overstock.com: Accepts major coins like Bitcoin, Ethereum, Litecoin, Dash, and Monero for a wide range of products.Newegg: Sells electronics and accepts Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.Microsoft: Accepts Bitcoin for Xbox games and subscriptions.Shopify: Allows merchants on its platform to accept various cryptocurrencies through third-party integrations.Expedia: Accepts Bitcoin for booking hotels and flights on select platforms.Home Depot: Partnered with Flexa to accept payments in select stores through a digital wallet app.Twitch: Allows streamers to receive donations in various cryptocurrencies.
Travel and Hospitality:
Travala: Online travel agency accepting over 80 cryptocurrencies for booking hotels and flights.CheapAir: Accepts Bitcoin for booking flights.Destinia: Accepts Bitcoin for booking hotels and other travel services.
Luxury Goods:
Gucci: Accepts Bitcoin, Ethereum, and other major cryptocurrencies in select stores.LVMH: Luxury goods giant experimenting with accepting Bitcoin in some brands.OpenSea: NFT marketplace accepts various cryptocurrencies for purchasing digital artwork.
Food and Beverage:
Pizza Hut: Partnered with PizzaForCoins to accept Bitcoin for deliveries in select regions.Subway: Accepted Bitcoin in select locations in 2021, future unclear.Burger King: Accepted Bitcoin in Venezuela in 2022, wider adoption uncertain.
Technology:
Tesla: Briefly accepted Bitcoin for car purchases in 2021, but suspended due to environmental concerns.Paypal: Allows users to buy, sell, and hold select cryptocurrencies directly in their accounts.
Entertainment:
GameStop: Accepts Bitcoin, Ethereum, Litecoin, and Dogecoin for online purchases.AMC Theatres: Accepts Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Dogecoin for tickets and concessions.
#Write2Earn #Write2Earn. #cryptopayments
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