Unfortunately Bitcoin (BTC) not been able to gathering A few days ago. Sentiment in the market has deteriorated somewhat again and as a result the bitcoin price has once again fallen below $42,000. Of course, this drop has to do with possible actions by the US central bank and escalating geopolitical tensions in Eastern Europe.
$46000 for rejection
After the US inflation figures were announced two days ago, a period of massive fluctuations followed. Bitcoin initially fell, but the price quickly rose again.
Unfortunately, this rally was short-lived and the price was not able to break the resistance around $46000. New reports on the situation in Eastern Europe have thrown a wrench in the works for another possible upward move. After that, the unending regression began. The price is now around $42,400, at least 7.5% lower than it was two days ago.
During US trading hours # bitcoinIt also fell in price this week. On the plus side, bitcoin gained some ground on Friday last week and over the weekend. So overall it looks a little better. But the overall environment remains uncertain in the short to medium term. pic.twitter.com/8vxf3RDydm
– Jan Westenfeld (JanWues) February 11, 2022
Fortunately, Bitcoin price is currently reaching an important support area around $41,600. the Bitcoin price He has already exploited this area, so this is likely to be the end of the correction. Of course, the price can drop further, and if the price falls through this support area, a further dangerous drop is very realistic.
Russia and Ukraine
Sentiment has deteriorated significantly yesterday and tonight. This, of course, has to do with the escalating tension between Russia and Ukraine. Several Western countries have advised their people to leave Ukraine as soon as possible due to a possible armed conflict.
There is a realistic chance of war. The war is clearly not good for the markets and that is why investors are worried at the moment.
Bitcoin Fear and Greed indicator is 44 – Neutral
Current price: 42,258 dollars pic.twitter.com/A39pLJCr5T
Bitcoin Fear and Greed Indicator February 12 2022
Despite the recent setbacks, sentiment remains more positive than it was just a week ago. At that time, feelings were very bad. Bitcoin’s rally from $33,000 has cooled off a bit.
The fact is that at the moment important external factors play a major role in the price of Bitcoin. Both stock and encryption Markets react violently to every news out of the situation in Eastern Europe, as well as the likely policy of the US Central Bank. It is expected to be an enjoyable period.
– Michael Saylor February 11, 2022
I can’t think of any other asset I’d like to hold during times of geopolitical uncertainty than # bitcoin
– Will Clemente (@WClementeIII) February 12 2022
No one will risk a nuclear Armageddon on Ukraine.
Just keep buying # bitcoinEverything will be fine.
– Lark Davis (@TheCryptoLark) February 12 2022
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