💰 Gate.io Daily Topic & Post Event
➡️ #BitcoinStrategicReserveAct#
— On May 7, New Hampshire became the first U.S. state to include Bitcoin in its strategic reserves. The new HB 302 bill allows up to 5% of public funds to be invested in digital assets and precious metals with a market cap over $500B.
Will this boost Bitcoin’s price? Could it set a trend for other states or countries? Share your thoughts!
➡️ #FOMCMeeting#
— The Fed will announce its May rate decision on May 8. Despite pressure to cut, markets expect no change. How do you think this will impact the market?
✍️ Post with #Bitcoin
Analysis: Bitcoin has returned above the 200-day MA, and the market is expected to be bullish.
According to BlockBeats news on April 27, analyst @alicharts reports that BTC has returned above the 200-day MA, which is a historically positive signal that usually indicates the price will rise further. Bitcoin formed a "death cross" on the daily chart on April 6 – a technical pattern where the 50-day MA falls below the 200-day MA. Since its inception, Bitcoin has experienced 10 such "death crosses", and the 11th is currently occurring. Analyzing the dates and durations of these "death crosses" leads to an important conclusion: every bear market includes one "death cross", but not every "death cross" results in a bear market. This distinction is key to understanding the current market landscape.