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Bitcoin might experience a pullback at any moment if unfavorable macroeconomic conditions, such as a rising interest rate and the possibility of a future rate increase that would frighten investors away from the market, are present. This would drive investors to flee the market. As a direct consequence of this, the market has not yet shown any indication that it has reached its bottom. At the time this article was written, the value of the first cryptocurrency was $23,109, which represented an increase of 1% over the preceding 24 hours.
Cryptoquant says a bull run is coming
According to the findings of a research that was recently released by the official CryptoQuant account, the recent rise in the price of bitcoin and the demand in general is only a warm-up for a further large movement that will take place in the future. The demand is going to see a flurry of activity.
According to the image that was uploaded on the account's Twitter page, the cryptocurrency market is getting ready to participate in a prolonged bull run that will be qualitatively comparable to the swell that began in 2021. This surge is expected to begin soon. The level of sophistication of the study is based on the tremendous increase in trade volume and force mobility that has been achieved by the network.
Following a prolonged bear request has been satisfied and a new low has been established, the condition that triggers movement in the other direction may be viewed as an increase in the level of effort that occurs within one week to one month after the completion of the request.
Cryptoquant, you should not get your hopes up just soon
Nevertheless, the absence of leveraged or funded positions on the request that may beget a particularly dramatic move makes it unlikely that we will see an explosive gain immediately down. This makes it unlikely that we will see an explosive gain right down. On the other hand, making a course correction right now may help create the groundwork for expansion over the course of the next year.
Bitcoin might be subject to a withdrawal at any point if unfavorable macroeconomic factors take hold, such as an increase in the interest rate and the possibility of a further increase in the rate, which would terrify investors and cause them to pull back from the request. As a consequence of this, the request has not yet given any indication that it has reached its lowest point. The value of the first cryptocurrency was $523 at the time this was written, which is a decrease of 2.7 during the previous eight hours.n,According To Cryptoquant.
Unfavorable macroeconomic variables, such as a rising interest rate and the potential for a further rate hike that would scare investors away from the market, might cause Bitcoin to face a pullback at any time. As a result, the market hasn't yet indicated that its bottom has been achieved. As of the time of writing, the first cryptocurrency's value was $23,523, down 2.7% over the previous eight hours
Other predictions: Crypto Tony on Bitcoin
As a seasoned trader, Crypto Tony, predicts a negative trend in February, Bitcoin is anticipated to make another try at $24,000.
Over the last several months, there have been price swings on the bitcoin market, which has been unstable. Despite this, cryptocurrencies continue to exhibit durability and expansion potential, and many analysts anticipate another rally to begin soon.
Bitcoin may go higher
A well-known trader by the name of Crypto Tony has attracted a lot of attention for his forecasts about bitcoin. The trader, who has a good track record of correctly forecasting market patterns, believes that in February bitcoin will be in a negative trend.
This projection is based on a number of significant variables, such as the state of the world economy and the recent decrease in investor confidence. Tony thinks that many institutional investors have been wary in recent months, staying out of the market and waiting to see how the state of the world economy affects and contributes to devaluation.
Though, Crypto A substantial recovery for bitcoin is anticipated in the next months, according to Tony, who also observes that the dip is unlikely to endure for very long. They anticipate a recovery and new record highs for the cryptocurrency, maybe even exceeding $24,000.
This forecast is crucial because the $24,000 mark represents a major point of resistance for bitcoin. Cryptocurrencies might signify a big market change and draw a sizable amount of fresh investment if they can overcome this obstacle.