After a year like 2022, it's nice to see some green on the screen. Bitcoin's rally continued into the thirteenth day of the new year, with no signs of stopping in sight. Now, by all indications, it appears to be a "disbelief" rally. Very few people seem convinced that this is the end of the bear market and the start of a new bull cycle. Regardless, this year-to-date chart is looking quite good thus far. The bull flag is suggestive of a continuation of price appreciation to the upside.
I see the next level of resistance at about $21,250 -- a break of that level would be great to see, as Bitcoin would reclaim a level not seen since a massive sell-off day on November 9, 2022.
So just why is Bitcoin rallying? The most recent catalysts seem to be signs that inflation is indeed cooling, as well as a declining US Dollar. In addition, according to the 200 Week Moving Average Heatmap chart on Blockchain.com, it appears that the price of Bitcoin has bottomed out.
These factors lead me to believe that Bitcoin will continue its run in the near-term. There are possible hinderances to consider for this rally: any crypto regulation passed by US lawmakers, a higher than expected rate hike from the Fed on the first of February, and of course any black swan event that may arise. For now, it's quite easy to be captivated by this current rally as it is showing no signs of stopping.
original Bitcoin faucet is long gone, but there are still ways to collect some free crypto:
Sign up here on Publish0x, if you haven't already, to earn free crypto for reading & writing content.
Cointiply and roll the faucet every hour, view PTC ads, take surveys to earn free Bitcoin, Litecoin, Dogecoin, or Dash.
Make an account at read.cash and earn Bitcoin Cash (BCH) tips for writing short posts or full articles.
Downoad the Bitcoin Cash Giveaway to collect some free BCH sats, paid out weekly.
Check out to easily collect some satoshis; no nonsense -- just solve a captcha. Low payout, slow drip here.
