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3 reasons why Bitcoin traders should be bullish on BTC

Cryptocurrency Sep 11, 2022 07:20PM ET
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3 reasons why Bitcoin traders should be bullish on BTC
 
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Bitcoin (BTC) has been in a rut, and BTC’s price is likely to stay in its current downtrend. But like I mentioned last week, when nobody is talking about Bitcoin, that’s usually the best time to be buying Bitcoin.

In the last week, the price took another tumble, dropping below $19,000 on Sept. 6 and currently, BTC bulls are struggling to flip $19,000–$20,000 back to support. Just this week, Federal Reserve Chairman Jerome Powell reiterated the Fed’s dedication to doing literally whatever it takes to combat inflation “until the job is done,” and market analysts have increased their interest rate hike predictions from 0.50 basis points to 0.75.

Bitcoin 2-year moving average multiplier. Source: LookIntoBitcoin
Bitcoin golden ratio multiplier. Source: LookIntoBitcoin
BTC/USDT 1 week chart. Source: TradingView
Bitcoin price versus MVRV difference. Source: Jarvis Labs
Bitcoin MVRV Z-Score. Source: Glassnode

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3 reasons why Bitcoin traders should be bullish on BTC
 

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Rise Unlimited
Rise Unlimited Sep 12, 2022 4:05AM ET
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Dark web, kitty flix and human traffic
 
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