Could BTC really climb back toward 25,000?
Bitcoin breaks upward from the 20,000 mark, out of the consolidation that it had been in since the middle of September.
This move higher coincided not just with the recent weakening of the DXY, but the timing was also aligned with the rise of the equity markets and probably more interestingly, the new appointment of the UK PM.
Sunak is often depicted as a "crypto-friendly" leader open to cryptocurrencies and other digital assets.
In April, the UK government announced its plan to make the country “a global cryptoasset technology hub”.
Headed up by Sunak, Finance Minister at the time, in brief the plan aims to “ensure the UK financial services sector remains at the cutting edge of technology, attracting investment and jobs and widening consumer choice,”
This probably brought about a new wave of optimism to the crypto assets, not just Bitcoin (check out Ethereum)
Look for Bitcoin to break above the 21,000 mark, which could generate some momentum for the price to continue climbing higher toward the 25,000 level, which is also the 50% Fibonacci retracement level (similar to what happened in July)
This move higher coincided not just with the recent weakening of the DXY, but the timing was also aligned with the rise of the equity markets and probably more interestingly, the new appointment of the UK PM.
Sunak is often depicted as a "crypto-friendly" leader open to cryptocurrencies and other digital assets.
In April, the UK government announced its plan to make the country “a global cryptoasset technology hub”.
Headed up by Sunak, Finance Minister at the time, in brief the plan aims to “ensure the UK financial services sector remains at the cutting edge of technology, attracting investment and jobs and widening consumer choice,”
This probably brought about a new wave of optimism to the crypto assets, not just Bitcoin (check out Ethereum)
Look for Bitcoin to break above the 21,000 mark, which could generate some momentum for the price to continue climbing higher toward the 25,000 level, which is also the 50% Fibonacci retracement level (similar to what happened in July)
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