Bitcoin Reclaims $20,000 Despite High Inflation Numbers, Here's Why

$BTC bounces to $20,000 despite the negativity on financial markets, and there's a reason for that

Whenever the absolute majority of market participants anticipate a certain event that should affect the market, they simply price it in advance, which is why almost nothing happens when an event passes. Sometimes traders refer to this general rule with the saying,"buy the rumor, sell the news.

"While the cryptocurrency market did not crash in the same manner, we saw back in June and even bounced a little, the lack of inflows and trading volume on Bitcoin and other assets means that we will not see any significant upward movements.Bitcoin still moves in the flag pattern, which usually occurs in sharp downtrends, reflecting the market's desire to"cool off" before making any other moves.

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