The BTC /USD pair remained under pressure even as the closely watched North American Bitcoin Conference kicked off in Miami.
AdvertisementGet StartedBitcoin Rebound FizzlesThe BTC/USD pair declined sharply and crossed the important support level at 40,000. The sell-off was a continuation of the decline that started a few months ago when Bitcoin jumped to an all-time high of over 68,000.
Analysts cite the performance of Bitcoin to profit-taking among investors who had spectacular returns in 2021. Also, historically, Bitcoin tends to decline before it nears a key resistance level.Another reason for the recent sell-off is the fact that investors are afraid about monetary policy. Recently, the Federal Reserve and other central banks have signaled that they will hike interest rates this year. The Fed has already hinted that it will implement 3 or more rate hikes this year.
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BTC ‘likely’ to repeat Q4 2020 move — 5 things to watch in Bitcoin this weekAre we going to flip bullish this week? Bitcoin price action has yet to impress in 2022, but bets are stacking up that things will soon get interesting again. Derrick_Jones39 I know we all probably might have heard about Bitcoin but don't know how it works, I tried it in a week ago by a man who recommended me to Derrick_Jones39 on Twitter he guides me through and i made a return of $10500 after a week of trading, connect with him Of course, soon the bulls will be more active, just wait.
AUD/USD Forex Signal: Bearish Head and Shoulders at 0.7200The Australian dollar has been weak since markets opened this week. Trade with our Forex signal here:
GBP/USD Forex Signal: Pullback to 1.3600 LikelyThe $GBPUSD pair attempted to make a comeback on Monday as concerns about the Boris Johnson administration remained.
EUR/USD Forex Signal: Break and Retest Pattern to FormThe EUR/USD pair retreated slightly on Friday after the US published relatively weak retail sales numbers.
GBP/USD Forex Signal: Sterling Ripe for a ComebackThe GBP/USD pair came under pressure as investors prepared for the upcoming economic numbers from the UK.
is trading at $42,200, which is substantially lower than the all-time high of over $68,000.Bitcoin , the biggest cryptocurrency in the world, has been under intense pressure in the past few weeks.BTC ) starts a new week facing multiple hurdles but with strong internal support — can old resistance below $50,000 finally fall? A correction event now almost in its third month is frustrating many, but conditions may soon be right for a fresh charge against opportunistic bears, an increasing number of analysts are saying.that occurs at the given levels.
Advertisement Get Started Bitcoin Rebound Fizzles The BTC/USD pair declined sharply and crossed the important support level at 40,000. The sell-off was a continuation of the decline that started a few months ago when Bitcoin jumped to an all-time high of over 68,000. It has coincided with the first actions by the Federal Reserve to start tightening. Analysts cite the performance of Bitcoin to profit-taking among investors who had spectacular returns in 2021. Cointelegraph takes a look at five factors worth paying attention to when charting BTC price action over the coming week. Also, historically, Bitcoin tends to decline before it nears a key resistance level. Its officials also started about the need to embrace a more hawkish tone in a bid to slow inflation down. Another reason for the recent sell-off is the fact that investors are afraid about monetary policy. I also thought that long trade from a bullish bounce t 0.
Recently, the Federal Reserve and other central banks have signaled that they will hike interest rates this year. For one, minutes published this month showed that officials were considering implementing about three rate hikes this year. With Wall Street closed for a holiday, Monday could shape up to offer more of the same before markets provide direction. The Fed has already hinted that it will implement 3 or more rate hikes this year. Therefore, the concern among investors is that since Bitcoin rallied amid a low-interest rate environment, the path of the least resistance will be lower when the policy changes. The BTC/USD pair made some modest gains last week after the US published the latest consumer inflation data. Another concern is that many big institutional investors have stayed in the sidelines recently. “By turning black into support on the Weekly, $BTC would confirm a re-entry into its ~$43100-$51800 range. Indeed, most American investors have not invested in Bitcoin despite their bullish statement about the coin. While this was the highest number in four decades, the numbers showed that inflation was starting to peak.7300, the price has fallen again and is encountering similar pivotal support and resistance levels, most notably the old resistance level at 0.
Most investors cite the fact that Bitcoin is a highly volatile coin and the fact that there is no clarity about regulations. The regulatory picture will likely become clearer in the next few weeks. Bitcoin and other risky assets tend to underperform in a period of high-interest rates. Also cautiously optimistic is fellow popular trader Crypto Ed, who is eyeing a potential replay of last week’s run above $44,000, something that bears subsequently quashed. In testimony to Congress, Jerome Powell said that the Federal Reserve’s report will be out in the next few weeks. This report could help to build confidence among investors. Meanwhile, the BTC/USD pair moved sideways during the North America conference. Last week, meanwhile, Cointelegraph reported on sentiment as an eventual outcome of the current ranging behavior.7223 which will suggest the price will continue to rise, or A bearish breakdown below approximately 0.
This performance was mostly because there were no notable statements from leading investors about the coin. BTC/USD Forecast The daily chart shows that the BTC/USD pair has been under pressure in the past few months. The sell-off accelerated after the coin managed to move below the key support level at 56,670, which was the lowest level on October 27th. markets and politics alike. It has moved below the 25-day and 50-day moving averages while the MACD has moved below the neutral level. Therefore, the path of the least resistance for the coin is lower, with the next key support being at 40,000..
Top Forex Brokers . This, in turn, places more pressure on weary consumers.