
Jakarta, Pintu News – The latest analysis from CrypNuevo, a leading analyst in the crypto market, suggests that Bitcoin may see a significant rise to $116,000 ahead of Thanksgiving.
However, before reaching that peak, Bitcoin (BTC) is expected to experience a temporary drop to the $104,000 level. This comes as the US government plans to re-open market liquidity that has been delayed.
According to CrypNuevo, Bitcoin (BTC) is still not completely safe from downward price pressure. Its latest analysis shows that there is a possibility that Bitcoin (BTC) will return to the $104,000 price before finally moving up. The CME Gap, which is the difference between the closing and opening prices of Bitcoin (BTC) on the Chicago Mercantile Exchange, is often used as an important indicator in this analysis.
This gap, along with the 50-period exponential moving average, suggests a potential price drop before the big rally. At the same time, the analyst emphasized that the liquidity that will be injected by the US government ahead of Thanksgiving and Black Friday, which fall on November 27 and 28, will be a major catalyst for price increases. With up to $70 billion expected to flow into the market, expectations for price increases are very high.
CrypNuevo forecasts that with the reopening of liquidity by the US government, Bitcoin (BTC) could reach a two-month high of $116,000. This analysis is based on observations of the market patterns that occurred after the crash on October 10-11, where more than $19 billion of liquidity in the market was lost.
Also read: Bitcoin (BTC) Hits $105,000, Will it Last?
With the injection of new liquidity, the market is expected to recover and even reach higher values than before. In addition, the analyst also highlighted that there is a “huge liquidity pool” above the current price that analysts have been targeting since the crash. This adds more basis for strong bullish predictions towards the end of November.
The predicted rise in Bitcoin (BTC) price will not only have an impact on Bitcoin (BTC) itself, but also on the crypto market as a whole. Other cryptos such as Ethereum , Ripple , and Dogecoin are also likely to be affected by this movement. Crypto markets often move in sync, and liquidity coming into Bitcoin (BTC) could cause a domino effect on other cryptocurrencies.
With significant changes in market liquidity, investors and traders are expected to remain vigilant and pay attention to important indicators that could affect prices. This analysis provides a clearer picture of the potential price movements that could occur in the coming weeks.
Taking all these factors into account, the crypto market seems to be gearing up for a very dynamic period towards the end of the year. Investors and market watchers should keep an eye on all developments related to liquidity and market indicators to make informed investment decisions.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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