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Without actual worries, the price of bitcoin (BTC) continues in its current phase of the accumulation. All the time, the tail wind after the tail adds its momentum to potential breakthrough.
Eleventh week of Skiporative Action Price
It may take a while, but the price of Bitcoin is winding, ready to release the shackles once more. After breaking through the 8-month bull flag in mid-October, the period required to absorb the resulting rise of the parabolic price will not be short.
Therefore, here, in the eleventh week of the side price, with Bitcoin that spreads in the middle of the range of the side path, waiting for the time when the bulls have the confidence that this decisive impetus in the next phase of the bull market.
The tail winds build
The tail winds are built all the time. Fresh fifth from the announcement of the Czech Czech Bank Committee to be involved in the possibility of adding Bitcoin to the financial reserves of the country, a new announcement, the Czech premiere, said Czech citizens would not pay capital gain from the capital Bitcoin tax for at least three years.
In the US, in A draft law that allows Bitcoin to be added to the State Treasury was adopted by voting home in Utah. So far, there are 16 countries that are in the process or exploring legislation opportunities, which will allow them to buy and hold bitcoin in their treasury.
Meanwhile, also in the US, recently pro-Bitcoin senator Cynthia Lummis argumentative for the Government Strategic Bitcoin reserve. She said:
“We have a gold strategic reserve, we have an oil strategic reserve. I think it is appropriate that Bitcoin is really digital gold, that it is involved in our spare property.”
She continued to suggest that she now buys 200,000 BTC money every year, which she already has and has been holding it for 20 years. He claims that the US could reduce their debt in half during this period. She said the growth of Bitcoin could also be used to increase US dollars as spare currencies.
With all this in mind, it must be wondered how much time it will take some of the world’s states to start every concrete announcement of the US that starts buying Bitcoin. Games theory could start.
Bitcoin continues in its range
Source: TraditionView
As can be seen in the short-term time frame of the 8-hour graph above, the price is close to the piercing of the triangle. Accordingly, unless one is traded in the short term, the direction of decay is generally not important. What is important, at least as far as bulls are concerned, is that Bitcoin does not fall below the range that has a low $ 92,000.
BTC compared to gold
Source: TraditionView
At the end of the day, if he deals with the price of bitcoin, you just have to look at the price of gold. It is currently at $ 2,864, gold has been firmly discovered prices, it often creates new top -notch heights as it rises.
Bitcoin still exceeds gold, which is more than 286% since the beginning of 2023, while over the life of Bitcoin, BTC increased more than 20,000% compared to gold. It is always best to deviate and look at the big picture.
Representation of the renunciation of responsibility: This article is only scheduled for informative purposes. It is not offered or intended to be used as legal, tax, investment, financial or other tips.
