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Is Bitcoin’s $80K Surge a False Alarm? Traders Warn of Potential Pullback
Bitcoin's recent rally near $80K sparks debate, with analysts warning of a possible sharp correction, even as price discovery continues.
Joe G & Money Talks
November 10, 2024 • Estimated Reading Time: 5 minutes
What we will talk about today...
Is Bitcoin’s $80K Surge a False Alarm? Traders Warn of Potential Pullback
Bitcoin Poised for Parabolic Uptrend as Halving Cycle Enters Final Phase
Robert Kiyosaki Discloses Bitcoin Holdings, Plans to Keep Buying BTC
Bitcoin's recent rally near $80K sparks debate, with analysts warning of a possible sharp correction, even as price discovery continues.
Same plan as always brotha, leg down under 50k, then rally to 100k+ after.
— CrediBULL Crypto (@CredibleCrypto)
8:50 AM • Nov 9, 2024
Main Points:
Weekend Price Spike: BTC/USD jumped almost $2,000 in an hour, approaching $80,000.
Liquidity Concerns: Thin weekend liquidity raises risk of a retracement.
Correction Predictions: Analysts suggest BTC may dip below $50,000.
Detailed Insights:
Weekend Volatility: Light weekend trading often leads to sharp but short-lived price moves.
Order Book Tactics: Some traders use “spoofing” to create temporary price momentum.
Long-term View: Experts like Credible Crypto warn of an upcoming pullback to below $50,000.
Weekend moves in low liquidity almost always full retrace btw.
— WhalePanda (@WhalePanda)
5:00 AM • Nov 10, 2024
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Bitcoin Poised for Parabolic Uptrend as Halving Cycle Enters Final Phase
Bitcoin breaks out from its re-accumulation phase, signaling a possible parabolic growth cycle. Analysts predict BTC could reach $84K by December 2024, fueled by institutional demand and a shrinking exchange supply.
#BTC
1 Final Phase of The Bitcoin Halving Cycle
Bitcoin has finally broken out from its ReAccumulation Range (red)
As a result, Bitcoin is now on the cusp of transitioning into the Parabolic Phase of the cycle (green)
It is during this phase that Bitcoin experiences… x.com/i/web/status/1…
— Rekt Capital (@rektcapital)
2:12 PM • Nov 9, 2024
Main Points:
Halving Cycle Progress: Bitcoin exits re-accumulation, entering a potential year-long parabolic phase.
Institutional Interest: Growing institutional participation as exchange balances fall.
Price Forecast: Analysts predict BTC could peak at $84K by end-2024.
Detailed Insights:
Halving Phases Explained: Pre-halving retrace, re-accumulation, and parabolic growth have historically marked Bitcoin's major gains.
Current Market Signals: Low selling pressure and high investor confidence strengthen Bitcoin’s growth outlook.
Institutional Moves: High demand for CME futures and reduced BTC on exchanges suggest long-term holding trends.
₿itcoin reached $79,546. +3.97%
♢Ethereum reached $3,202. +4.48%
“Rich Dad Poor Dad” author Robert Kiyosaki reveals his Bitcoin holdings and shares his approach to wealth-building. Kiyosaki advocates investing in “real money” assets like Bitcoin, gold, and silver, regardless of market price.
WORDS & THOUGHTS of a poor person.
1: Bitcoin costs $76,000. “That’s too expensive. II will wait till the price goes down.”
2: Gold is $2684 an ounce. “That’s too expensive. I will wait for the price to come down.”
3. Silver is $32.00 an ounce. “That’s too expensive.… x.com/i/web/status/1…
— Robert Kiyosaki (@theRealKiyosaki)
4:04 AM • Nov 9, 2024
Main Points:
Bitcoin Strategy: Kiyosaki holds 73 BTC, aiming for 100 BTC within a year.
Investment Philosophy: Emphasizes asset ownership over waiting for price drops.
“Real Money” Assets: Recommends converting fiat to Bitcoin, gold, and silver.
Detailed Insights:
Steady Accumulation: Kiyosaki suggests buying assets steadily rather than timing the market.
Asset Diversity: Investments span Bitcoin, income-generating real estate, and gold mines.
Wealth Mindset: Encourages replacing “fake money” with tangible, lasting assets.
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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results