Sirwin
Sirwin

60k all day

By theliondefi | The future is crypto | 2 Mar 2024


Bitcoin closed above 60k this week. Below is the monthly chart of Bitcoin.

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Let's observe a little bit what happened:

Bitcoin gained 44% during February 2024. Last time this happened was back in October 2021.

After this event, next months lost around 30% which dropped it around 29k. If charts are an indication of the past this might happen again, but no one can predict the future.

Another key factor to consider is the Bitcoin dominance in the market. Currently this is around 53.82%

Back then in November 2021 that was 44% which means that now Bitcoin has the major of the liquidity in the market.

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Bitcoin ETF's play a key role here which are huge players in the market now.

Honestly no one can say with certainty if Bitcoin can hit a new all time high this month or not.

What I observe is that most of the altcoins gained value, but no new money added on the market which might cause a breakdown sometime.

What I can say is that nothing happened yet :)

I am 100% convinced that later this year and during 2025 we will see again Altcoins gaining 100% in just a few days.

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theliondefi
theliondefi

theliondefi


The future is crypto
The future is crypto

This is a blog about crypto. I do believe the future is crypto. Trying to help other understand crypto concepts. Feel free for any comments positive and negative.

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