CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
BitcoinSistemi 2024-12-25 08:10:06

Is a “New Year’s Rally” Coming for Bitcoin? Analyst Timothy Peterson Reveals

Cryptocurrency analyst Timothy Peterson predicted a potential “Santa rally” for Bitcoin in a Twitter post, citing three key indicators. Peterson cited historical trends, market seasonality, and the performance of the US dollar as factors that point to a strong Bitcoin rally during the holiday season. Dollar’s Weakening Momentum: The analyst noted that the US Dollar Index (DXY) is approaching a recent high and there is an 85% chance it will reverse soon. Historically, a declining dollar has an inverse relationship with Bitcoin, as declining global demand for the USD often pushes investors toward alternatives like cryptocurrencies. “A weaker dollar is often associated with stronger Bitcoin performance,” Peterson said. Related News: Developers on Solana Revealed the Altcoins Developers Are Most Focused on - Here's the List Bitcoin Seasonal Resistance: The analyst said that Bitcoin has historically performed positively in the last week of December. Data shows that Bitcoin tends to perform well from December 25 to January 2, with exceptions being both rare and mild. Peterson also noted that since 2015, Bitcoin has gained in November 100% of the time, and has also gained in December. This trend could see Bitcoin perform an average of 10% in December, pushing its price to $106,000 by the end of the year. Historical Cycle Examples: Peterson drew parallels with the 2016 and 2020 bull market cycles, stating that Bitcoin’s current price trajectory closely mirrors those periods. He suggested that Bitcoin is poised for a significant upward move consistent with the “January effect,” where markets typically see renewed buying interest following year-end tax losses. *This is not investment advice. Continue Reading: Is a “New Year’s Rally” Coming for Bitcoin? Analyst Timothy Peterson Reveals

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta