Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Tanimariya on October 12, 2021, 03:30:37 PM
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An increase in network adoption along with a price increase is believed to confirm an uptrend. Bitcoin’s rally looks to have legs as the ascent is backed by a pickup in blockchain activity and a long-term technical indicator which is about to turn bullish.
While bitcoin has gained 30% this month, the user activity on the network, as measured by the seven-day average of the number of active entities, has increased 19% to 284,179, according to data provided by Glassnode. Source Link
(https://www.coindesk.com/markets/2021/10/12/bitcoin-eyes-60k-as-active-entities-surge-price-chart-shows-impending-bull-cross/)
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if you look at the CG charts available this year, we have to admit there is a tendency for bitcoin to move up to reach their last ATH at $64,804.72, where there has been a Becomes -11.1%.
of course it will get closer to reaching the point of % leading to the positive, it is likely to happen in the following month.
CG Graphics:
(https://i.imgur.com/fIC4ywJ.jpg)
whether there will be an increase in this November or will it happen in December, but the tendency to occur in November will be more pronounced if we look at the monthly chart from the site https://www.bybt.com/today (https://www.bybt.com/today)
but the month of October has not been completed so the calculation is not complete, if it has entered the end of October then it can be concluded that it is a bit more accurate.
We hope that there will be no other surprises that lead to a re-correction, for that we hope that bad news will not appear when the situation does lead to an increase.