Bitcoin

<ul><li>Federal Bank decision affects Bitcoin’s Bullish.</li><li>Bitcoin’s next target will be the $30,000 price range.</li></ul>After the continuous collapse in the banking sector, Bitcoin (<a href="https://thenewscrypto.com/tag/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) had a sudden bullish and reached the trading price of $28,000. BTC has risen about 22% this month and more than 65% since January 1.  While the current growth of Bitcoin is impressive, it still marked by extreme volatility is a big call for caution of extremely bullish projection.There is so much fear going around the Federal <a href="https://thenewscrypto.com/bitcoin-lost-its-bullish-momentum-after-feds-announcement/" rel="noopener noreferrer nofollow">monetary policy</a>, increased regulatory activity, and banking unrest. For a short period, BTC has witnessed a price decline which pushed Bitcoin below $27,000 on March 23.<h3 id="bitcoin-safe-and-dependable-alternative">Bitcoin Safe and Dependable Alternative</h3>An analyst mentioned that the reason behind the price decline in BTC is the Federal Bank’s announcement of a 25 base points increase in interest rate. However, the good news is that Bitcoin continues to gather momentum and reached its trading price above $28,000 on March 24. BTC signals that investors saw it as a safe and dependable alternative to the traditional financial system.At the time of writing, BTC is trading at about $27,470, down by around 2.06% in the last 24 hours. Even that leveler represented that retreat from loftier near $28,000. For now, the BTC price is just up and down around the $27K range. Following Bitcoin, the global crypto market cap is also declined by 1.74% over the last 24 hours with a market cap of 1.15 Trillion according to CoinMarketCap.However, the trading price of Bitcoin depends on whether there is a new event that may accelerate the selloff or trigger a potential pivot. If the latter occurs BTC may regain the bullish momentum, and its major next target will be the $30,000 price range.

Will Bitcoin Gain Bullish Momentum Again?

目录

TheNewsCrypto

发布于 2023年3月25日的其他文章

Binance Insiders Aiding Users to Bypass KYC Protocols in China

Partnership with DeFi project CrowdSwap

Uniswap price analysis: Bearish momentum dominates as UNI drops $6.00 level

Global Crypto Market Declines After Deutsche Bank’s Failure

Coinbase takes a bold step toward influencing American politics

Weekly crypto price analysis 25/03: BTC, ETH, XRP, BNB, ADA, and SOL

订阅我们免费的电子期刊，获取每日最新加密领域动态！