Bitget App
Mag-trade nang mas matalino
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Mag Buy and Sell ng crypto nang madali
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, Without Going Onchain
Convert & block trade
I-convert ang crypto sa isang click at walang bayad
Explore
Launchhub
Makuha ang gilid nang maaga at magsimulang manalo
Copy
Kopyahin ang elite trader sa isang click
Bots
Simple, mabilis, at maaasahang AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
Isang beginner-to-advanced na paglalakbay sa futures trading
Futures promotions
Generous rewards await
Overview
Iba't ibang produkto para mapalago ang iyong mga asset
Simple Earn
Magdeposito at mag-withdraw anumang oras para makakuha ng mga flexible return na walang panganib
On-chain Earn
Kumita ng kita araw-araw nang hindi nanganganib ang prinsipal
Structured na Kumita
Matatag na pagbabago sa pananalapi upang i-navigate ang mga market swing
VIP and Wealth Management
Mga premium na serbisyo para sa matalinong pamamahala ng kayamanan
Loans
Flexible na paghiram na may mataas na seguridad sa pondo
Market updates
Bitcoin Paving the Way for $32,000 After State of Hibernation

Bitcoin Paving the Way for $32,000 After State of Hibernation

Beginner
2023-08-11 | 5m

Looking at the current state of being on Bitcoin in Week 32 of 2023

Period of Diminished Volatility

Recent data indicates that Bitcoin is experiencing an unusual decrease in its characteristic volatility, especially for an asset often dubbed the most capricious of all. With the majority of Bitcoin trading sessions has been marked by stagnant and tightening price movements. Historically, such behavior is a precursor to a substantial breakout, often succeeded by heightened volatility due to new capital injections.

On August 8, this very pattern manifested when Bitcoin witnessed a nearly 6% price augmentation within a matter of hours.

Bitcoin Paving the Way for $32,000 After State of Hibernation image 0

Is US$32,000 in sight once again?

Despite the recent positive price movement, Bitcoin has not yet regained its footing above the US$30,250 mark. This particular value has played a pivotal role in dictating market sentiment since early June. In periods when Bitcoin traded below this price, its value oscillated between a low of US$28,650 and an upper limit of US$32,000. Consequently, surpassing this threshold is tantamount to overcoming a significant resistance. And if it does, the likelihood of a shift in bullish sentiment increases significantly with increased probabilities of seeing Bitcoin traverse to US$32,000 once again.

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Bitcoin Paving the Way for $32,000 After State of Hibernation image 1

Share
link_icon
Paano magbenta ng PIInililista ng Bitget ang PI – Buy or sell ng PI nang mabilis sa Bitget!
Trade na ngayon
Iniaalok namin ang lahat ng iyong mga paboritong coin!
Buy, hold, at sell ng mga sikat na cryptocurrencies tulad ng BTC, ETH, SOL, DOGE, SHIB, PEPE, nagpapatuloy ang list. Mag-register at mag-trade para makatanggap ng 6200 USDT na bagong user gift package!
Trade na ngayon