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October 31, 2023

Bitcoin's Potential Upside Risk: Another Leg Up or Pullback After FOMC Meeting

Ethan Williams
Written byEthan WilliamsWriter
Researched byNikos PapadopoulosResearcher

Introduction

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.

Bitcoin's Potential Upside Risk: Another Leg Up or Pullback After FOMC Meeting

Scenario 1: Another Leg Up

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.

Scenario 2: Current Level Maintenance

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.

Conclusion

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.

About the author
Ethan Williams
Ethan Williams
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Ethan Williams, a lively 24-year-old lad from the UK, brilliantly fuses his passion for online casinos with top-notch English localisation, creating bespoke casino guides for Britain's keen gaming lot.

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