Bittime - Bitcoin movements are back in the spotlight. According to 10x Research, Bitcoin will soon reach new highs, potentially even breaking the $83,000 mark. 10x Research's optimism is driven by several key factors.
Monetary Easing Policy
One of them is the monetary easing policy that is starting to be implemented by global central banks. This week alone, Canada, Denmark and Europe have lowered their benchmark interest rates.
In addition, the weakening economic growth of the United States (US), marked by a decline in employment and public consumption, is believed to have an impact on slowing inflation. This is a positive sentiment for crypto assets such as Bitcoin.
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Decreasing Interest Rates
Although the US Federal Reserve (The Fed) has a small track record of reducing interest rates ahead of the presidential election, market expectations regarding this policy also influence the movement of risk assets. With expectations of lower interest rates, Bitcoin price is predicted to reach a new All Time High.
However, 10x Research also provides important notes. Bitcoin's failure to break new highs could potentially be triggered by a significant decline in Ethereum prices. To that end, they continue to monitor Ethereum's support level at $3,725.
Bitcoin All Time High
In its report, 10x Research uses the "head and shoulders" chart pattern as the basis for analysis. This pattern indicates a potential increase in Bitcoin prices in the near future. The ideal forecast is to break the resistance line at $83,000 today (June 7) or by next week, Wednesday (June 12).
As market players and market analysts, we have to consider every scenario and think ahead. With this analysis, 10x Research invites investors to continue to pay close attention to market movements and consider various possibilities.
Also Read How to Buy Crypto:
How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Bitcoin Predictions: Cryptocurrency Potential in 2024
Bitcoin Predictions 2024: Price Increase and Analysis According to Experts
Bitcoin Remains Crypto King: Pompliano Predicts Bitcoin Will Surpass Gold
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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