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Cryptocurrency News Articles
Bitcoin Price is Up and Reaching Over $65,000. Is This Increase Because #Uptober is Coming or Is It Just a Coincidence and BTC Price Will Go Down Again Tomorrow?
Oct 18, 2024 at 04:36 pm
Yesterday, Bitcoin received a prediction that its price would increase, today this prediction came true. Bitcoin Price rose to a level of more than $65,000 today.
Bitcoin price increased and reached a level of more than $65,000 today. This increase is predicted to continue until the end of 2024 and even 2025.
Yesterday, we reported that Bitcoin received a prediction that its price would increase. Today, this prediction has come true with Bitcoin Price rising to a level of more than $65,000.
Now, the question arises whether the increase in BTC prices is because #Uptober has come as predicted? Or will this price increase only last today and will decline again tomorrow?
To answer this question, let’s take a look at the Bitcoin price chart today.
Bitcoin Price Chart Today
After Bitcoin experienced a continuous decline in price for a long time, today Bitcoin finally penetrated the $65,710 level with an increase of +2.46%. In fact, within 24 hours, Bitcoin reached its highest price of $66,499.
You can see a screenshot of the Bitcoin price chart above taken from the Bitrue market. The BTC RSI indicator reached 65, which is a good number in the buying trend because it is more dominant than the selling trend. However, this dominance is still within reasonable limits, not overbought.
The MACD line is clearly visible rising. The two lines also have a clear distance so that the bullish trend will come soon.
So, we can be optimistic that today’s Bitcoin price increase is the beginning of BTC’s bullishness until the end of 2024. In fact, it is predicted that it will experience a price increase until 2025 based on its performance cycle in the last 4 years.
Bitcoin Dominance in the Crypto Market
Bitcoin's dominance in the crypto market has decreased slightly today. This decrease is predicted to continue until the end of 2023.
Currently, Bitcoin's dominance is at 38.3%, down -0.07% from yesterday. Meanwhile, Ethereum's market cap dominance has also decreased slightly to 18.1%.
This decrease in BTC and ETH dominance is predicted to occur because other cryptocurrencies, such as BNB, XRP, and ADA, are experiencing price increases.
The increase in prices for these cryptocurrencies is predicted to continue until the end of 2023, driven by the increasing popularity of these coins and the launch of new projects on their respective blockchains.
As a result, Bitcoin's dominance is predicted to continue decreasing, while other cryptocurrencies will experience price increases and increasing market capitalization.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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