The leading cryptocurrency Bitcoin rose above $ 38,000 with its rise today, but this was not permanent.

At this point, while BTC has fallen back to $ 37,780, the upward expectation for Bitcoin continues.

Speaking to Coindesk, FxPro’s senior market analyst Alex Kuptsikevich was also one of those who expected an increase in BTC.

Stating that at this point, Bitcoin may be producing energy for the next rise, Alex Kuptsikevich said that BTC has been in the consolidation process for about three weeks, that this process lasted shorter than expected, that the withdrawals are limited and that these are a sign of “dip buying” demand.

“Bitcoin recovered in an ascending channel, reaching a three-week high of $37.8K on Wednesday evening.

Intensifying selling is thwarting attempts to raise the price, but pullbacks have become more limited in the past three weeks.

This shows that Bitcoin may be generating energy for the next rise, and the uptrend is increasing.”

*This is not investment advice.

Read the full article here

Share.

Leave A Reply

Your road to financial

freedom starts here

With our platform as your starting point, you can confidently navigate the path to financial independence and embrace a brighter future.

Registered address:

First Floor, SVG Teachers Credit Union Uptown Building, Kingstown, St. Vincent and the Grenadines

CFDs are complex instruments and have a high risk of loss due to leverage and are not recommended for the general public. Before trading, consider your level of experience, relevant knowledge, and investment objectives and seek financial advice. Vittaverse does not accept clients from OFAC sanctioned jurisdictions. Also, read our legal documents and make sure you fully understand the risks involved before making any trading decision