The creator of bitcoin protocol was created by Satoshi Nakamoto, who has thrown off the exchange rates of other major currency pairs as bitcoin to US dollar is an effective way to offer traders a new choice. One significant advantage for BTC is the lower bitcoin transaction fee in near real-time. This is compared to the legacy of banks to settle their transactions. So will 0.001 BTC USD make your money in the near future?
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Bitcoin usually correlates with significant assets, including the US dollar or stock index performance.
BTC indirect relationship to USD DXY for 2023
A definite pattern started in 2023 with BTC’s indirect relationship to USD DXY. Take a look at this Yahoo Finance chart over the last three months. Pay attention to 2023 only to see this pattern. This intelligent new trading bot can be generated to take advantage of this. It would be pretty simple to code up. Why do you think this is referred to a lot because?
BTC indirect relationship to USD DXY for 2023 | Quant Trading Live Report (podbean.com)
Here is the current price of bitcoin.
One-year historical outlook
One year of historical data with candlestick and volume
When you look at the overall moves of Bitcoin over 24 hours period, you will find the price has been stable since the crypto winter set.
Market cap dominance
Bitcoin remains dominant against other alt altcoins circulating supply has also been stable.
Simple moving average
This metric of cross-moving average periods is a way to measure when you could buy bitcoin. Just watch for the crosses to confirm your entry and exit.
I like this indicator, as I hinted about this in a previous Podcast:
Bitcoin has breached 21k USD now. As hinted in the AROON indicator, Momentum could build with more buy signals. So there is a rampway for growth in the next leg up. As you know, crypto can be a casino, but this latest Bitcoin move seems different. The volume levels are at the same pre-FTX collapse. The question is how long it will be sustainable.
AROON indicator says it is time to load up on Bitcoin | Quant Trading Live Report (podbean.com)
Also, there is some relationship between Bitcoin with an asset like the US Dollar market index.
Rolling kurtosis of the distribution of prices
Overall what is the future price of Bitcoin according to ChatGPT
As an AI language model, I cannot predict the future of the bitcoin price with certainty. However, I can offer insights based on past trends and current market conditions.
Bitcoin’s price is highly volatile and subject to market forces, such as supply and demand, government regulations, and investor sentiment. Therefore, the future of bitcoin’s price will depend on various factors, some of which are unpredictable.
That being said, some analysts believe that bitcoin’s price could continue to rise in the long term due to increasing adoption and acceptance by mainstream institutions, such as banks and payment processors, and growing interest from retail investors. Additionally, the limited supply of bitcoin, with only 21 million coins ever to be mined, could also contribute to its increasing value.
However, others caution that bitcoin’s price could experience significant fluctuations in the short term due to market volatility and regulatory uncertainty. Additionally, the emergence of alternative cryptocurrencies and the potential for increased government regulation could also impact bitcoin’s price.
Overall, the future of bitcoin’s price is uncertain and subject to various factors. It’s important to remember that investing in cryptocurrencies is highly speculative and involves significant risks. As with any investment, it’s essential to research and consults a financial advisor before making any decisions.
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Plus, I asked what the best way to trade it is:
Bitcoin trading can be done through various methods, including cryptocurrency exchanges, peer-to-peer marketplaces, and over-the-counter (OTC) trading. Here are some tips that may help you trade bitcoin:
- Research: Before trading bitcoin, it’s essential to research and learn about the cryptocurrency market, its history, and its potential risks and rewards.
- Choose a trading platform: Select a reputable and reliable forum that fits your needs and preferences. Some popular exchanges include Coinbase, Binance, and Kraken.
- Develop a trading strategy: Develop a trading strategy that includes your goals, risk tolerance, and time frame. Consider factors such as market trends, trading volume, and news events that could impact the price of bitcoin.
- Risk management techniques: Risk management techniques, such as stop-loss orders and position sizing, are used to limit potential losses.
- Monitor the market: Keep track of market trends and news that could impact the price of bitcoin. Regularly monitoring the market can help you make informed trading decisions.
It’s important to remember that trading bitcoin and other cryptocurrencies are highly speculative and involves significant risks. Therefore, it’s essential to do your research, develop a trading strategy, and consult with a financial advisor before making any investment decisions.
NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!