Bitcoin, the world’s first decentralized cryptocurrency, is showing signs of a potential surge. As of October 25, 2023, the Bitcoin price was $34,740.82, marking an increase of 2.08%1. The cryptocurrency’s price has been volatile, with a 7-day range between $28,135.50 and $35,183.221.
The total supply of Bitcoin is capped at 21 million coins1, and as of the latest data, the circulating supply is 19.52 million1. This limited supply is one of the factors contributing to Bitcoin’s value.
Recent news indicates that Bitcoin’s bullish momentum may reignite. According to expert Peter Brandt, the bottom for Bitcoin prices is in, but traders should prepare for a 'chopfest’1. This suggests that while prices may fluctuate in the short term, the overall trend is upward.
Moreover, the Relative Strength Index (RSI), a popular technical indicator used by traders to gauge market momentum and identify overbought or oversold conditions, signals a potential surge to $65,0001.
In other news, Bitmain has unveiled a new T21 Bitcoin miner and offers a BTC fluctuation protection plan1. This could potentially stabilize the market and reduce price volatility.
However, as with any investment, it’s important to do your own research and understand the risks involved. Stay tuned for more updates on Bitcoin’s price movements and market trends.