October 31, 2023
Bitcoin's potential significant upside risk has a short expiration date. Analysts, led by Yukari Kusu, explain that there are two possible scenarios for Bitcoin's price movement.
In the first scenario, Bitcoin could experience another leg up in the next couple of days. This means that the price could increase further before entering a correction phase.
In the second scenario, Bitcoin could stay at the current level until next week's FOMC (Federal Open Market Committee) meeting. After the meeting, it may start to pull back.
Bitcoin's potential upside risk is temporary and has a short expiration date. Traders and investors should be aware of the two possible scenarios: another leg up or a pullback after the FOMC meeting. It is important to stay informed and make informed decisions based on market trends and events.