As previously planned, Bitcoin has pumped further to Biden victory and tech stocks increase and is now evolving in a narrow range around $16k.
The stock exchange markets in Europe have opened on a positive note. Therefore, there are two ways to think about Bitcoin:
- If it behaves like the digital gold, this positive trend on the stock exchange market will not necessarily have a positive impact on Bitcoin
- If it behaves like it has behaved so far, it should benefit from this positive trend and increase too
We all like the second option. However:
- Bitcoin has not yet managed to remain a long time above $16k
- Uniswap liquitidy pool rewards will end shortly, what will release a huge quantity of ETH and WBTC on the spot exchanges, pressuring the prices
Having said that, we can predict that Bitcoin will remain in a narrow range around $16k-$16.5k until the end of Uniswap farming end and that atfer it might decrease below $16k before a new bull run.
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