3 reasons why Bitcoin price is clinging to $38,000
BTC is in a lengthy downtrend but three key price metrics explain why traders are confident that the $38,000 level will hold. Bitcoin (BTC) has been unable to break from the 26-day-long descending channel. Investors are uncomfortable holding volatile assets after the United States Federal Reserve pledged to reduce its $9 trillion balance sheet.While inflation has been surging worldwide, the first signs of an economic downturn showed as the United Kingdom's retail sales fell 1.4% in March. Moreover, Japan's industrial production dropped 1.7% in March. Lastly, the U.S. gross domestic product....
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With the Bitcoin price up, it is clear once again that those who called for Bitcoin's coming death were once again wrong. Well, well, well... So it seems the bitcoin price is once again attempting to climb the ladder to greatness. Following massive fluctuations that saw the price of the digital currency stumble well below $200 for a short while, the price of bitcoin has now risen up like the morning sun and is clinging onto the side of the mountain for dear life, currently sitting at a flat-lining $232. Of course, there are many out there that truly believe with every fiber of their being....
The Bitcoin price has risen above $35,000 for the first time since early May 2022, for which there are a number of reasons beyond mere speculation. These are the five most important reasons. #1 BlackRock’s Spot Bitcoin ETF Approval Looms Large The primary driver behind the surge seems to be the growing anticipation surrounding the […]
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The price of Ethereum (ETH) hit $500 on Binance for the first time since July 2018. The timing of the ETH rally is noteworthy because it comes merely two days after it dropped to $456. Within two days, from its lowest point on November 18, ETH has rallied by nearly 10%. Several key reasons appear […]