Bitcoin Jumps to $27,000 for the first time since June 12th. Will the bulls hold up prices?

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e shtunë, 18 mars 2023 6:36 pasdite

Bitcoin Jumps to $27,000 for the first time since June 12th. Will the bulls hold up prices?

This year, the cryptocurrency market has been full of surprises for investors and traders alike. The year recorded a short-term altcoin rally, and Bitcoin showed signs of recovery after nursing major losses in the previous year. 

Tani aktivi duket se po bën një rikthim edhe më të madh me rritjen e tij më të dukshme të çmimeve.

The apex cryptocurrency, Bitcoin, has surged past $27,000. The price pump positively alarmed key players in the market, as the asset is tapping this level for the first time since June 12th, 2022. 

The bulls continued to show that they were in control for a while and pushed the price up even higher to a $27,787 high. A mild price rejection was recorded shortly after, and Bitcoin mori një goditje. Bitcoin is now trading at a press time price of $27,488. Bitcoin’s weekly performance has been commendable since the start of March, and this has further resulted in its 7-day gains going up to 36%, and its 24-hours gains are up 4.25%.

Bitcoin’s price pump comes after Bloomberg analyst Mike McGlone predicted that the asset is likely to trade like the U.S. treasury bond, as a result of the numerous banking issues that have plagued the traditional market, some of which have exposure to the crypto market.

"Bitcoin may be progressing to trade more like the U.S. Treasury long bonds and gold as banks come under stress on the back of the bond-price collapse.” Bloomberg’s McGlone noted in its report.

Raporti më tej mban një ndjenjë edhe më të mirë për kriptomin kryesor, megjithatë, Bloomberg citon një pengesë përpara.

“Our long term view is quite bullish on the crypto [Bitcoin], But the near term headwinds of declining risk assets in the face of the U.S. recession vs. recovering gold and Treasury bonds may be gaining a companion in Bitcoin".

Meanwhile, PlanB, a Bitcoin proponent and popular creator of the Bitcoin Stock-to-Flow Model, has made some notable comments about the potential future of Bitcoinçmimi i.

PlanB took to Twitter today to reveal that Bitcoin is bouncing towards a bullish area on the stock-to-flow valuation model. He had previously predicted that the asset will likely triple its price value. However, he maintains that it might not be possible in the current cycle. 

#Bitcoin    bouncing back towards dark blue area of the stock to flow valuation model. Hate it or love it, the halving is coming. Tripple top (new ath) in the current cycle is not impossible, IMO.https://t.co/lZXhhMJ1I4 pic.twitter.com/0qFuLgTG3f

Burimi origjinal: ZyCrypto