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What is Bitcoin’s 5-day moving average

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What is Bitcoin's 5-day moving average

What is Bitcoin called a five day moving average? What is the upward trend of the five day moving average? Why is Bitcoin said to be a cyclical relay, rather than a currency operating within the cyclical center In the past few decades, technically, price fluctuations have been increasing, and market participants are gradually realizing this – the emergence of the five day moving average is good news for BTC; But if you take this news as a reference, you will find that it is not a once and for all thing: since May 19th, prices have been declining until 4 pm this afternoon before falling again. In the past week, the price of Bitcoin has rebounded by over 50% (approaching 40000 so far) and has continued to rise, but this situation will not continue According to standard consensus research, Bitcoin’s trend will show exponential growth over the next five years. Bitcoin experienced a significant rebound shortly after breaking through the key resistance level of $10000 at the end of March 2020. At the same time, the market value of Bitcoin has risen to around 65%, far exceeding the market share of around 1% in the world’s largest stock market; As of the end of 2021, there were 21 companies with a market value exceeding $1 billion among the top 200 global crypto assets, including trading platforms and exchanges such as Coinbase, Gemini, and Binance

Therefore, we believe that Bitcoin can be used as a gold hedging tool to deal with the risks brought by the COVID-19 epidemic, rather than being regarded as a value storage tool or inflation hedging tool. For example, Bitcoin is halved every four years; In addition, the halving of Bitcoin mining rewards has led to a halving of its supply According to CCN, after experiencing its longest bear market since the end of 2017, Bitcoin is now approaching $40000. Although the market still maintains an optimistic attitude towards BTC, many traders believe that due to increased volatility, prices may continue to decline. On the contrary, they say they will soon see signs of breaking through or adjusting below this level. According to Bitstamp’s data, Bitcoin has risen by nearly 50% in the past week, reaching a historic high; Cryptocurrency, such as Ethereum and Cardano, rose sharply (by 10% and 30% respectively).

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