بٹ کوائن کی تاریخ دہرائی جا رہی ہے؟ 3 اشارے بتاتے ہیں کہ اکتوبر بی ٹی سی بیل مارکیٹ کو دوبارہ متحرک کرے گا۔

بکٹکو (BTC) failed to break the so-called September curse, with its price falling by a little over 7% into the month despite a strong rebound rally right ahead of its close. Nonetheless, Bitcoin looks to be making a comeback in October, a month known for painting aggressive bullish reversals.

Bybt data shows that Bitcoin has closed October in profit the majority of the time since 2013 — with a success rate of over 77%. Last year, the cryptocurrency surged by 28% to reach levels above $13,500 after finishing September at around $10,800, following an approximate 7.5% decline.

Similarly, Bitcoin climbed higher by over 10% by the end of October 2019 despite plunging by around 14% the previous month. That made September look like a sell-off month for traders, with its record of logging losses seven out of nine times since 2013.

اس کے برعکس ، اکتوبر نے خود کو ڈپ خریدنے کی مدت کے طور پر پیش کیا ، یہ تجویز کرتا ہے کہ تاجر 31 اکتوبر تک بٹ کوائن کی قیمتوں میں اضافہ کر سکتے ہیں۔

The October fractal surfaces despite alarming signals in the form of China’s intensifying crackdown اور United States’ tougher regulatory stance کرپٹو سیکٹر پر۔

Additionally, the prospects of the Federal Reserve limiting its $120-billion-a-month bond-purchasing program later this year appear to have been limiting Bitcoin’s upside outlook. The loose monetary policy, combined with the U.S. central bank’s near-zero interest rates, was instrumental in pumping Bitcoin’s price from below $4,000 in March 2020 to almost $65,000 2021 اپریل تک

But despite the short-term setbacks, a flurry of key indicators reveal that investors still want exposure in the booming cryptocurrency space.

ادارہ جاتی آمد

Crypto data tracking service CryptoCompare کا کہنا in its report that volumes associated with digital asset investment products rose 9.6% in September. Meanwhile, the weekly product inflows rose to $69.7 million, the highest since May 2021.

“Bitcoin-based products saw the highest level of inflows out of any asset, averaging $31.2 million per week,” CryptoCompare wrote, adding that “There could be upside going into the last quarter of 2021.”

20 ہفتوں کا EMA فریکٹل۔

Technical indicators also pointed to a bullish session ahead for Bitcoin as it formed a base around $40,000 before the September close and reclaimed key resistance levels as interim support. That included the bias-defining 21-week exponential moving average (21-week EMA).

As Cointelegraph covered earlier, a drop below the 21-week EMA increased Bitcoin’s probability to continue falling by 78%. On Sept. 27, the cryptocurrency fell below the green wave (as shown in the chart below) but reclaimed it as support while entering the October session.

A move above the 20-week EMA, accompanied by rising volumes, has historically led to explosive Bitcoin bull runs. As a result, if the fractal repeats, BTC price may head toward a new record high in the weeks ahead.

بیل پیننٹ بریک آؤٹ۔

Another technical indicator that has been predicting a bullish outcome for Bitcoin is the bull pennant.

متعلقہ: تجزیہ نگار ویکیپیڈیا ماہانہ 2 ماہ چل رہا ہے - اس کا اکتوبر کا ہدف $ 63K ہے۔

In detail, BTC’s price has been consolidating inside two converging trendlines following its 500-plus percent rally.

روایتی تجزیہ کار ان پس منظر کی چالوں کو تیزی کے تسلسل کی علامت سمجھتے ہیں۔ ایسا کرتے ہوئے ، وہ توقع کرتے ہیں کہ قیمت پیٹرن کے اوپری ٹرینڈ لائن کے اوپر ٹوٹ جائے گی - اور پچھلے اپ ٹرینڈ کی لمبائی جتنی بڑھ جائے گی ، جسے فلیگ پول کہتے ہیں۔

As a result, Bitcoin’s path of least resistance appears to be to the upside, with a potential breakout move looking to send its prices toward $100,000 (the flagpole’s height is roughly $50,000).

یہاں جن خیالات اور رائے کا اظہار کیا گیا وہ صرف مصنف کے ہیں اور یہ ضروری نہیں کہ سکےٹیلیگراف کے خیالات کی عکاسی کریں۔ ہر سرمایہ کاری اور تجارتی اقدام میں خطرہ ہوتا ہے ، اور فیصلہ لیتے وقت آپ کو خود اپنی تحقیق کرنی چاہئے۔

ماخذ: https://cointelegraph.com/news/bitcoin-history-repeating-3-indicators-suggest-october-will-reignite-the-btc-bull-market