yesterday the rose Bitcoin price (BTC) at 14.5%, this is of course an incredibly high rally. So today I’m talking about three reasons why this 14.5% increase is happening. In addition, I tell you how high Bitcoin can reach in the short and long term. The first reason relates to eBay† eBay has indicated that it is considering accepting crypto payments. Since people already Irreplaceable icons †NFTs) on eBay, accepting crypto payments doesn’t sound impossible. As many platforms are considering accepting cryptocurrencies as a means of payment, the adoption of cryptocurrency is on the rise, which may lead to increased demand for cryptocurrencies.
Bitcoin price resistance or support?
The second reason relates to the situation with Russia and Ukraine. The Russian ruble is dropping rapidly in value against the US dollar. As a result, the Russian population is looking for a means of payment that retains its value. In addition to gold, we see that Bitcoin is also a good option. Due to the fall of the ruble, the demand for bitcoin increased significantly, which led to a rise in the price of bitcoin.
The third reason for Bitcoin’s massive rally has to do with its technical analysis. $37,000 is an important support level for Bitcoin. Where is Bitcoin headed? Personally, I think $45,000 would be a very important point for Bitcoin. I think that if we stay below $45,000, there will be another downside correction. If we break the $45,000 level, I think we can continue to go higher.
I dived myself into the world of cryptocurrency at the end of 2019 and also delved into stocks since the beginning of 2020. I have now found my life’s mission: a financially healthy life for everyone. In my country Einglish- And the Dutch I create videos about cryptocurrencies and stocks under the name “Nesami” on YouTube channels, using my FUPITA method: Fundamental, Financial and Technical Analysis. When it comes to cryptocurrencies, I keep track of the latest developments in Bitcoin, altcoins, and NFT. Are you curious how can I help you invest in cryptocurrencies and stocks? Then take a look at My website†
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