May 27, 2022

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Bitcoin analisten spreken van bodem, maar komende week wordt spannend

Bitcoin Analysts Talk Down, But Next Week Will Be Exciting “Crypto Insiders”

Bitcoin (BTC) It has lost more than 17% of its value in the past few days. Looks like the decline is calming down a bit right now and Bitcoin price It cautiously starts to turn green, but the fear is still very high.

Some analysts are talking about a possible bottom, but this appears to depend mainly on macroeconomic developments, especially the policy of the Federal Reserve. The Federal Open Market Committee (FOMC) will hold another meeting next Tuesday and Wednesday, which could once again have serious consequences for financial markets.

Bitcoin price trying to recover

Bitcoin Initially, it recorded an additional drop yesterday morning all the way to $34,000, the lowest price since late July. Then make the price instantly great bounce, bounce It rose to $36,000, but the resistance was still very strong.

Bitcoin gradually declined again, but this time the price found support around $34,500. The whale charts indicated up front that the price might find support here because the whales bought a lot here.

Then Bitcoin started to recover slightly slowly and rose again overnight to $36,000. However, this morning Bitcoin was rejected again here. Bitcoin price reaches $35,850 at the time of writing Binance and 31,600 euros. employment battle.

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What can we expect?

However, whether Bitcoin actually hit the bottom is highly debatable. As mentioned earlier, the direction of the bitcoin price is currently determined mainly by macroeconomic conditions. In addition, the market is still somewhat over-indebted So if the price drops again, it could lead to another series of liquidations.

In contrast, the on the chain still data rising Draw the picture. Bitcoin could be oversold And miners are still not giving up, even though the mining difficulty is higher than ever.

Also, BTC supply on cryptocurrency exchanges continues to decline, which is a bullish sign.

However, the demand is not high enough at the moment to include a bounce, bounce to cause. Due to the great fear in the market, many investors are still hesitant. So there is definitely a possibility that this might not be the bottom and a dip below $30K is still possible. With HODLers resilient but demand not strong enough to trigger a breakout higher, we may also enter another period of consolidation.