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Tohu Bullish: Bitcoin Ruru ana i te Putanga Kaihau o Genesis
Bitcoin has not moved as expected despite the news of Genesis, one of the largest crypto lenders in the world, filing for bankruptcy. This lack of negative movement from bitcoin in response to the news could cement the digital asset’s path to the upside in the coming weeks.
Bitcoin Remains Unfazed By Genesis
Ahakoa nga korero whakamataku o a Genesis kaihau finally becoming a reality, the price of bitcoin has not reacted negatively. In fact, the digital asset has barely responded to the news at all and continues to trade around the $20,900 level.
He aha tenei e whakaatu ana ko nga korero mo te kaihautanga o Genesis kua oti te utu ki te utu o te rawa. E marama ana i te mea kua roa e whakaaro ana te kaituku moni crypto ki te tuku mo te kaihau mo te wa roa, me te tirotiro i ana whiringa. No reira he mea tika ko te kino me te mataku ka kawea mai e enei purongo kua keria e nga kaiuru o te waahi.
hoki bitcoin, this suggests that the price of the digital asset is where it is supposed to be. Given that its current price level appears to be a fair price, then there is more support for the current bull rally. It also means that to trigger another downtrend for BTC, it would have to be a true market-disrupting event.
Ko te hokinga hohonu mai i te whakatikatika i te maakete ka kaha ake te kore ki tenei purongo. Ko te tikanga ko a ka taka ki raro i te $20,000 ka tawhiti ake i te hiahia o nga pea, te tuku i te moni crypto ki te waahi mo te piki ake i te heke.
Ka titiro nga Kaipupuri BTC ki nga whiringa kua pau
On Friday, over $580 million in bitcoin options are expected to expire, and while this would normally be a cause for celebration for the bears, BTC’s continued strong performance would make this a win for the bulls who stand to gain more from the market.
Even though there are some who expect inflation to get worse, an example being JPMorgan Chase CEO Jamie Dimon, there is a slowdown for now, which has reduced the pressure on bitcoin and the general crypto market at this point. With the easing inflation, risk assets are seeing a better performance, increasing the chances of a price recovery rather than a decline from here.
Bitcoin’s price is also sitting comfortably above its 50-day and 100-day moving averages. This at the very least solidifies bullish momentum for the digital asset for the mid-term. Additionally, there is ample support for BTC just above $20,500 which serves as a deterrent to bears in the meantime. If BTC holds through the weekend, then a solid move above $21,000 can be expected next week.
Ko te utu o te BTC kei te huri i nga ringa ki te $ 20,949 i te wa o tenei tuhi. Kua piki ake te 1% i roto i nga haora 24 kua pahure ake nei me te kite i te pikinga nui o te 10.34% i nga ra e whitu kua hipa, e ai ki nga raraunga mai i Coinmarketcap.
Kuputuhi taketake: NewsBTC