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What's next in BTC price? After a few days of difficulties, Bitcoin has recently risen above the moving averages. Currently, the bulls are working to prevent bears from pulling the price below the 20-day exponential moving average at the $26,840 level. BTC price is trading at $27,022, up over 0.5% compared to yesterday's rate. There is a rising upward trend in moving averages, and the relative strength index (RSI) shows positive signs, pointing to an upside momentum. A light resistance is expected to be at $27,500, but this resistance level can be exceeded. The BTC price could then approach the next $28,201 resistance, and if successful, it could move towards the $30,108, where a significant strife between the bulls and the bears was expected. On the other hand, the $26,000 sign is very important. Bears can gain advantage if violated. This could potentially lead the price to drop towards the strong support level of $24,845.
What's next in BTC price? After a few days of difficulties, Bitcoin has recently risen above the moving averages. Currently, the bulls are working to prevent bears from pulling the price below the 20-day exponential moving average at the $26,840 level. BTC price is trading at $27,022, up over 0.5% compared to yesterday's rate. There is a rising upward trend in moving averages, and the relative strength index (RSI) shows positive signs, pointing to an upside momentum. A light resistance is expected to be at $27,500, but this resistance level can be exceeded. The BTC price could then approach the next $28,201 resistance, and if successful, it could move towards the $30,108, where a significant strife between the bulls and the bears was expected. On the other hand, the $26,000 sign is very important. Bears can gain advantage if violated. This could potentially lead the price to drop towards the strong support level of $24,845.
#ContentStar# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #GateLive# #contentstar# #MyFancyCreator# #HotTopicDiscussion# Bitcoin Posts First Quarterly Decline of 2023
Bitcoin (BTC) fell to $27,000 at the end of September.
This was the cryptocurrency's first quarterly decline of the year, with its price being sensibly lower than three months ago. In July, Bitcoin hovered at about $31,000. This translates to a fall of nearly 13% over the second quarter of 2023.
Per Bloomberg data, Bitcoin surged 83% in the first two quarters of 2023, but traded in a relatively narrow range over the past few months amid an uncertain macroeconomic environment. While the Federal Reserved left interest rates unchanged at its September meeting, it signaled rates would remain high for longer to combat inflation. Higher interest rates tend to reduced the appetite for riskier assets like cryptocurriencies.
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Some investors had anticipated a spike in Bitcoin demand if the SEC approved spot Bitcoin exchange-traded funds ( ETFs), but the SEC postponed decisions on ETF proposals from BlackRock, Ark 21Shares and GlobalX until 2023.
Furthermore, some expected a potentially rally similar to March 2023 if the U.S. federal government shutdown. When several small and mid-sized U.S bank failed in March, Bitcoin jumped around 25% over one month.
With its first quarterly decline of 2023 now in the books, the price of Bitcoin faces continued uncertainty in the fourth quarter amid mixed signals on regulation and the macroeconomy. While some see signs of a potential rally ahead, Bitcoin's near-term trajectory remains unclear. #ContentStar# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #GateLive# #contentstar# #MyFancyCreator# #HotTopicDiscussion# 
