Bitcoin

Although the prediction made by venture capitalist and former CTO at <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">cryptocurrency trading</a> platform <a href="https://finbold.com/review/coinbase-review/" rel="noopener noreferrer nofollow">Coinbase</a> Balaji Srinivasan that Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) could soon reach the price of $1 million is considered overly enthusiastic, historical trends indicate the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset could still kick off a significant rally.As it happens, after the United States Federal Reserve paused its interest rate hikes in 2018, <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> responded by trending up, and now the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">crypto market</a> is pricing in the possibility that the same could happen in May this year, according to a tweet by the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> analyst Seth <a href="https://twitter.com/seth_fin/status/1641233622471458816" rel="noopener noreferrer nofollow">published</a> on March 30.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/6418fe5513f54a129c1931d56b410b26.jpg" />Bitcoin vs. U.S. interest rate chart. Source: <a href="https://twitter.com/seth_fin/status/1641233622471458816" rel="noopener noreferrer nofollow">Seth</a>Specifically, as the expert explained using the Bitcoin vs. U.S. interest rate chart:<blockquote>“There is a probability that like in 2018 when we get a pause in the US interest rate, then Bitcoin starts to trend up! The market is pricing in a FED rate Pause in MAY! Are you ready for a [High Time Frame (HTF) uptrend?”</blockquote>That said, while many <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> experts agree that Bitcoin has strong <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> energy, especially in light of the upcoming <a href="https://finbold.com/bitcoin-halving-one-year-away-when-will-btc-price-spike/" rel="noopener noreferrer nofollow">halving event</a>, which will take place in the first half of 2024 and has <a href="https://finbold.com/bitcoin-halving-pattern-analysis-can-btc-reach-200000-post-halving/" rel="noopener noreferrer nofollow">historically led to spikes</a> in the price of the maiden digital asset, the InTheMoneyStocks.com Chief Market Strategist Gareth Soloway <a href="https://finbold.com/pro-trader-says-bitcoin-to-dive-to-13k-before-major-rally-as-financial-crisis-2-0-unfolds/" rel="noopener noreferrer nofollow">believes</a> it could first plummet back to November 2020 levels at around $13,000.<h2 id="header-0">Bitcoin price analysis</h2>As things stand, Bitcoin is currently trading at the price of $28,688, which represents an increase of 1.15% on the day and a 4.51% gain across the previous week, adding up to the 21.98% advance on its monthly chart, as per the latest data retrieved by Finbold on March 30.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/c921a45d9e93425d9c6dce530572f6e4.png" />Bitcoin 30-day price chart. Source: <a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">Finbold</a>Notably, Bitcoin has shown resilience amid increased <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulatory</a> scrutiny over the industry, recently adding <a href="https://finbold.com/bitcoin-adds-30-billion-to-its-market-cap-in-a-day-is-btc-price-set-to-hit-30000/" rel="noopener noreferrer nofollow">nearly $30 billion to its market capitalization</a> in a single day, indicating a positive momentum that could lead its price toward surpassing the $30,000 psychological level.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

U.S. interest rate pause could kickstart Bitcoin rally in May, charts indicate

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