BitcoinLong
BTC - BULLISH SCENARIO
Bitcoin, the top cryptocurrency, dropped from nearly $38,000 last week to under $36,550, a 1% decrease. This happened after a month-long 30% rise, sparking talks of a positive trend.
Even though it hit $35,100 today, the crypto market mostly kept its gains from the surge, hinting at possible more growth and less calmness.
Last week, Bitcoin reached $37,800 due to hopes for a U.S. Bitcoin ETF. But JP Morgan analysts warned about its effect on Bitcoin's value.
Today's drop caused big sell-offs, wiping out over $367 million in a day and affecting 103,000 traders. Bitcoin initially rose due to good U.S. CPI data but settled near $35,400.
BlackRock's Ethereum ETF idea pushed Ether over $2,000, but it's now at $1,974 after falling 6%.
Cryptocurrency values change a lot, influenced by economics and feelings in the market. Investors are watching for rules that could change crypto values.
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Even though it hit $35,100 today, the crypto market mostly kept its gains from the surge, hinting at possible more growth and less calmness.
Last week, Bitcoin reached $37,800 due to hopes for a U.S. Bitcoin ETF. But JP Morgan analysts warned about its effect on Bitcoin's value.
Today's drop caused big sell-offs, wiping out over $367 million in a day and affecting 103,000 traders. Bitcoin initially rose due to good U.S. CPI data but settled near $35,400.
BlackRock's Ethereum ETF idea pushed Ether over $2,000, but it's now at $1,974 after falling 6%.
Cryptocurrency values change a lot, influenced by economics and feelings in the market. Investors are watching for rules that could change crypto values.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
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