Are you seeing the news recently since 4 days or a week ago or even more. It has been very positive. Some analysts are saying bear market is over for now, some said that bitcoin can increase to $80000. I am reading more of the news recently. Today I read another one where someone said the bear sentiment has significantly reduced as more people are expecting bull run instead. People are also expecting a breakout time. Very possible the price will increase or this they are just news with positive sentiment for bitcoin price?
I've never been a fan of Bitcoin hype but to tell the truth and face the reality, despite, as much as I advise you to take it easy with all these social media hypes which often happens when Bitcoin has a slight bullishness, it may be true this time. Do you know why? It's because when inflation was bitting so much between 2021 and 2023, the FED started raising the federal fund's rate and Bitcoin fell for it being a risk-on asset. But this time, the reverse is happening, the FED is now kin to start cutting rates, with 50 bps already cut last week.
This is undoubtedly a very good hint that Bitcoin may rise significantly between now and 2025 if the rate cut continues. Social media talk is cheap but this is practical as it's the basis of the market's economics, the bullishness must be obeyed in this condition. Technically, Bitcoin has a bullish price action on the weekly chart and has even breached the important level of $62,160, so it's all bullish now. However, let's hope the US inflation continues to subside for this expectation to be possible.
