Bitcoin Price Prediction as $35,000 Resistance is Surpassed – When is the Next Leg Up?
has continued its upward trend, bouncing back above the $35,000 mark early on Monday following a brief dip linked to legal issues involving FTX founder Sam Bankman-Fried. The overall market sentiment, gauged by the Fear & Greed Index, currently stands at 73, indicating a state of “greed.”
✅ BTC aims for its third consecutive green week, striving to close above $35k. pic.twitter.com/M0l4Wn3LBY
— MonFi Finance (@MonFifinance) November 6, 2023
Another contributing factor could be the United States reporting the addition of 150,000 jobs in October, which fell short of the anticipated 180,000 and marked a decline from the 297,000 jobs added in September. Furthermore, the unemployment rate increased to 3.9 percent, surpassing the expected 3.8 percent.
The global cryptocurrency market sentiment has improved, with the Crypto Fear and Greed Index rising four points to reach a score of 74 out of 100. This increase suggests that investors are more optimistic about the market. While some speculate that the recent price surge is short-lived, market experts see signs of sustained interest driving the ongoing uptrend.
Bitcoin Fear and Greed Index is 74 ~ Greed
Current price: $35,190 pic.twitter.com/pCx0if3Ske
— Bitcoin Fear and Greed Index (@BitcoinFear) November 6, 2023
Hence, the positive market sentiment and increased investor confidence, indicated by the rising Fear and Greed Index, alongside sustained interest, potentially bolstered Bitcoin’s price above $35,000.
It’s worth noting that the number of blockchain addresses holding at least $1,000 worth of bitcoin (BTC) has reached a record high, now standing at 8 million, calculated at the current BTC price of $35,115.
This substantial growth is considered a noteworthy development, and
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