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Bitcoin price prediction – “BTC and gold are increasingly correlated.”



Bitcoin (BTC) News as of 10/26/2022.

The correlation between bitcoin and gold is increasing, according to Bank of America analysts. Long referred to as “digital gold,” the queen of cryptocurrencies has been used in recent months as a safe haven by investors in this period of inflation, a role that gold has historically played.

“ETF outflows in 3 of the last 4 weeks indicate that investors are continuing to HODL rather than sell into strength, said Shah and Moss, the authors of the report on the correlation between the two assets.

At the time of writing, bitcoin is clinging to its support of the past few days at over $19,000. It is trading at $20,611, up 7% in 24 hours.

Bitcoin (BTC) medium-term price forecast.

Between $30,000 and $20,000, you buy Bitcoin at a relatively low price. The $20,000 price would be an important support if Bitcoin falls to that level. The corner may rise to $50,000 in the medium term.

Bitcoin (BTC) long term price forecast.

The most common predictions among big Bitcoin investors are $100,000, $250,000 and $1 million. So there is no doubt that Bitcoin has a bright future. Possible regulation in the United States is welcome among large investors.

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Opinion on the Bitcoin project

Bitcoin will maintain its domain. This is demonstrated during market downturns. Investors buy Bitcoin at the expense of more volatile altcoins. Thus, Bitcoin crashes are relatively moderate compared to those of altcoins.

What affects the value of Bitcoin (BTC)?

  • Halving: high probability of upside
  • Rumors about cryptocurrency regulation.
  • Adoption of cryptocurrency by a major payments company.

What is Bitcoin (BTC)?

Bitcoin is the first cryptocurrency to be launched and the first use case of blockchain technology. It can be used to purchase goods and services at merchants that accept it as payment. Bitcoin (BTC) holders can purchase goods and send funds in BTC through a specific wallet without a central authority or bank acting as an intermediary.

Read also. Cryptocurrency market crash: these are the worrying price predictions from CoinQuora

Bitcoin is the most well-known virtual currency today, and its value has increased exponentially since its creation in 2009. Bitcoin’s developer, Satoshi Nakamoto, has stated that the goal of Bitcoin is to be an electronic payment system based on cryptographic evidence instead of in the reliance on a financial or state authority.

With almost zero value in 2009, Bitcoin has gained notoriety in a decade. El Salvador has made it legal tender and several online payment operators have integrated it into their systems due to demand.

How does Bitcoin work?

Bitcoin was created with a distributed digital ledger called blockchain. The blockchain is a form of public ledger, which is a digital system that allows transactions and associated data to be recorded simultaneously on many servers at once.

This decentralized aspect has been revolutionary and will be a standard in the future for data storage that does not require the trust of a central actor such as GAFAM or banks.

Useful links for investing in Bitcoin (BTC).

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