Bitcoin Price Prediction: Is the Bull Trap of the Year About to Occur?

Bitcoin (BTC) has corrected to below $26,000 after an attempt to breach the $30,000 mark, widely regarded as a key resistance point for a new rally. Recent price movements have left some analysts pondering the cryptocurrency's uncertain future.

In a series of posts on TradingView, a crypto analyst by the pseudonym Tolberti expressed on September 3 that Bitcoin's recent surge and price drop could potentially be a 'bull trap' of the year. He pointed out that the current Bitcoin chart appears to form a significant head and shoulders pattern —an indicator typically associated with bearish trends.

If Tolberti is correct, this could mean that Bitcoin is about to enter a prolonged bearish phase. This would be bad news for investors who are hoping for a new bull market in the near future.

However, it is important to note that no one can predict the future of Bitcoin with certainty. There are still a number of factors that could support a bullish case for the cryptocurrency, such as the upcoming 2024 halving event and the growing institutional interest in Bitcoin.

If you are considering investing in Bitcoin, it is important to do your own research and understand the risks involved. You should also be prepared to hold your investment for the long term, as Bitcoin is a volatile asset that can experience significant price swings.

https://cryptolog.link/2023/09/04/bitcoin-price-prediction-is-the-bull-trap-of-the-year-about-to-occur/

recycle to earn,recycle coin ,Riwa

​

https://preview.redd.it/5ifltjvy85mb1.jpg?width=960&format=pjpg&auto=webp&s=eeefb4e33eb395823b5d4ff13afa87d9cfec2797

https://preview.redd.it/yr8snkvy85mb1.jpg?width=720&format=pjpg&auto=webp&s=687a0eb0d8865c52a924fef558415f2981a0ff11

https://preview.redd.it/6lfm44xy85mb1.jpg?width=720&format=pjpg&auto=webp&s=3ce6a8933527cc6442b4144ec57fe429aa0a28cb

https://preview.redd.it/4u4i5nvy85mb1.jpg?width=1280&format=pjpg&auto=webp&s=00b563938c1ea62e717b5c7684c8dadceaf5a34a

https://preview.redd.it/y2r3a7xy85mb1.jpg?width=960&format=pjpg&auto=webp&s=6cce39daecde89c5b43a8d6bc66530b2ac240b02

https://preview.redd.it/3w04b8xy85mb1.jpg?width=960&format=pjpg&auto=webp&s=0913c0e92afc47ccc88e91f69617007757b85e35

We are participating in the event at the request of the president of the Gwangmyeong Women's Association

I came up with an idea in a hurry..

If you sign up and send us a proof shot, it's going to be a point event

Fighting today, too

ㆍ

ㆍ

ㆍ

私たちは光明女性会の会長の要請により、イベントに参加します

急いでアイデアを思いつきました..

加入して証拠写真を送ってくだされば ポイントイベントになると思います

今日もファイト

ㆍ

ㆍ

ㆍ

광명시 여성단체협의회 회장님 요청으로 행사에 참여중입니다

급하게 아이디어 짜서..

가입후 인증샷 보내주시면 포인트 적립이벤트로 진행중입니다

오늘도 파이팅입니다~

ㆍ

ㆍ

#페트이리와 #리와 #bitcoin #etherium #xrp #elonmusk #리와수 #RIWASOO #리와코인 #리와챌린지 #Lbank #bitforex #MEXC #Bybit #recycle #recyclecoin #페트병재활용 #업비트 #빗썸 #코인원 #더이리와 #R2E #우리동네페트방 #환경코인 #RIWA #petbang #RIWACOIN #RIWACHALLENGE #RIWATOKEN

The 25 Countries Leading Bitcoin Mining. A Comprehensive Analysis

Here's an insightful look into the countries leading in Bitcoin mining!

🔹Bitcoin has had a rollercoaster journey since its inception. Remember 2017's peak and fall? Yet its demand has only surged, especially during the Covid-19 pandemic.

🔹Mining requires massive computational power, causing environmental concerns. As its value grew, more began mining, particularly in profitable countries. Enter: NVIDIA Corporation, a significant player thanks to its GPUs.

🔹2023 saw Bitcoin's value soar once again, sparking renewed interest in mining. Notably, while found NVIDIA success with AI, Crypto Mining also contributed.

🔹Ethereum's move from proof-of-work to proof-of-stake is reshaping the mining landscape. This is expected to cut mining needs, possibly affecting cryptocurrency demand.

🔹The crypto world isn't just about Bitcoin and Ethereum. Newcomers like Worldcoin are gaining traction, focusing on identifying real users in an AI-driven content era. Coinbase predicts a shift to non-trading crypto uses soon!

🔹Who mines the most Bitcoin? Based on a study by Cambridge, Italy, Mexico, and Iran are top miners. But Italy grapples with high costs, Mexico held a major crypto event in 2022, and Iran uses Bitcoin to bypass sanctions.

🔹The world of Bitcoin mining is ever-changing. Despite the crypto rollercoaster, interest remains high. The push towards non-trading uses & decentralized tech heralds exciting times ahead!

Bitcoin analytics. Is it really existing?

Do you know the question I’m asked the most?

"What about the bitcoin?"

I would have to think smartly about the global economy, regulators, levels of support, and other big things.

But I’ll just say, "I don’t know".

And I think that should be the answer of any serious analyst now. Unfortunately, for an analyst, admitting ignorance is often considered loss of face.

All analysts operate on the same input information, neither I nor the vast majority of "crypto-prophets" have special insider information. Now the dynamics of the rate of bitcoin is determined by information. Any event, even a minor one, causes an information surge, supported by all possible media, and the corresponding course movement.

The court has almost approved Bitcoin ETF, commentators applaud, the stock market is growing, but is quickly returning to its original values in anticipation of the next news. There’s no subject for analysis.

​

https://preview.redd.it/xdrxqqr8lzlb1.png?width=1024&format=png&auto=webp&s=642c083ab92da3343295d6cbc386abf1f86b9036

However, these are minor events in the short run. But how will Bitcoin behave strategically?

I don’t know either.

I don’t know who really came up with the Bitcoin, what their goals are, I do not know strategic plans of the authorities of different countries. I only know what they want to show me.

We can abuse the fiat all we want, but it exists within clear rules, and therefore it is predictable.

You don’t have to be a great analyst to say that once the ETF is approved, Bitcoin will grow. Fine! What’s next?

Again, I say, "I don’t know!" It’s more honest than predicting a million dollars "in a few years".

Professional analytics can be done on reliable input information. We are reasoning without understanding the essence of the ongoing events.

It upsets me when all the colossal energy hidden in a blockchain is spent on stock exchange trading. Friends, the stock exchange is secondary. Once the blockchain is integrated into the real economy, then we can talk about a big professional analysis.

Does this mean you don’t have to invest in Bitcoin?

Not at all. You just need to understand that it is an element of a gambling. This is some sort of a smart casino.

And now it makes sense to focus on blockchain projects that bring real benefits. That’s what we do when developing Meta Force. It’s fair and predictable and it depends on us but not on the news feed.

#Bitcoin #analytics #globaleconomy #regulators #blockchain #blockchainprojects #MetaForce