Greed

2024

Bitcoin

April

Rise

<p>On Sunday, April 7th, Bitcoin (BTC) marked another increase in its valuation. Its price, which had significantly dropped in the previous days to a level close to $65,000, found itself just over $70,000. With the halving just days away, this rise in the price of the flagship cryptocurrency has sparked speculation.</p>
<h2 id="h-the-battle-for-bitcoin-to-hold-at-70-000">The battle for Bitcoin to hold at $70,000</h2>
<p><a href="https://www.cointribune.com/en/bitcoin-at-69000-what-to-expect-in-the-coming-days/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin has recently made a new breakthrough</a>. The leading cryptocurrency indeed reached a peak of $70,230. A surge which actually represents an increase of 2.4% in its valuation from the previous day.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>As usual, <a href="https://u.today/bitcoin-btc-price-surges-back-above-70k-is-this-another-bull-trap?utm_source=coingecko&amp;utm_content=coingecko&amp;utm_campaign=coingecko&amp;utm_medium=coingecko&amp;utm_term=coingecko" target="_blank" rel="noopener noreferrer nofollow">this Bitcoin trend</a> has been closely scrutinized by analysts and investors. It has notably sparked speculation about its potential to establish a stable position at this coveted level.</p>
<p>Given the current market circumstances, reaching the $70,000 threshold has been a real challenge for the leading crypto. The efforts of optimistic investors to push Bitcoin above this level actually resulted in a price pullback of the asset.</p>
<p>It appears that Bitcoin is indeed actively struggling to maintain itself above this resistance level, as evidenced by its recent drop towards $65,000. Nevertheless, the crypto shows resilience while illustrating the volatility inherent in the crypto market.</p>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> Price Surges Back Above $70K. Is This Another Bull Trap? <a href="https://t.co/dESeRBiro0" rel="noopener noreferrer nofollow">https://t.co/dESeRBiro0</a></p>— MrCr4Nk (@MrCr4nk) <a href="https://twitter.com/MrCr4nk/status/1777080982312481053?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 7, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
 <figcaption class="wp-element-caption"><em>Bitcoin touched $70,000, but can it stay there?</em>
 </figcaption>
</figure>
<h2 id="h-will-bitcoin-claim-victory">Will Bitcoin claim victory?</h2>
<p>The real question is whether Bitcoin has what it takes to maintain its momentum following its recent surge. It is anything but certain. An analysis of chart data even suggests the opposite may be unfolding.</p>
<p>Indeed, the TD Sequential, a technical indicator identifying the reversal possibilities of a market trend, has issued a sell signal on the four-hour chart. The data indicates a potential correction, confirming the predictions of crypto analyst Ali.</p>
<p>This data also reinforces concerns about the sustainability of Bitcoin’s recent surge. Even though, according to the Fear and Greed Index trends, investors are very eager for profits and are consequently willing to take high risks on Bitcoin.</p>
<p>Overall, the cryptocurrency’s recent flight to over $70,000 represents a significant achievement. However, the recurrent difficulty in <a href="https://www.cointribune.com/en/why-should-you-consolidate-your-bitcoins/" target="_blank" rel="noopener noreferrer nofollow">consolidating gains</a> at this level raises concerns about the durability of the current bullish momentum. Fears somewhat confirmed by Bitcoin’s slight drop, losing 0.12% of its value to settle around $69,380.</p>

Bitcoin: A New Rise to $70,000 Raises Questions

Mục lục

Cointribune EN

Các bài viết khác được xuất bản trên 8 thg 4, 2024

Dogecoin Might Hit $12, Reflecting 2021 Trends, Is 10x Surge on Horizon for Bonk & Rebel Satoshi?

1.44 Trillion Shiba Inu in 24 Hours: Is SHIB Waking up Again?

Chinese Institutions to Launch Bitcoin ETFs in Hong Kong

5 Best Cheap Crypto to Buy Now Under 1 Dollar April 7

Bitcoin Halving Approaching Soon: What Will Happen to the Bitcoin Price?

BREAKING: Coinbase Announces to Investors That It Will List a New Altcoin!

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!