Bitcoin overcomes difficulties: “bulls” are aimed at $45,000

The bitcoin price has suffered a fatal drop of 23% over the current week to a critical support level, which is at $34,000. This price level is a key benchmark for the bulls. The main reason for such a large-scale correction is the spread of news that Russia has launched a military operation in Ukraine. This decline has led to a serious decline in the entire cryptocurrency market.

However, at the moment there is a possibility of restoring the benchmark.

Investors can expect that bitcoin will continue to recover in the short term and overcome the resistance barrier, which is located at $40,000. Since the price drop coincided with a massive surge in trading volume, which can be interpreted as a set of long positions by buyers.

However, it should also be taken into account that the main benchmark of the crypto industry has lost the status of a safe haven asset, completely breaking the correlation with traditional savings assets, during large-scale global turbulence. Also, the pressure on the market of risky assets is exerted by the imminent approach of an increase in the Fed’s key rate, which in the medium and long term may negatively affect the growth of the value of bitcoin.

This week, we should expect the continuation of the recovery and the approach of the benchmark to an important resistance level, which is at the price level of $ 40,000.

The bitcoin price has suffered a fatal drop of 23% over the current week to a critical support level, which is at $34,000. This price level is a key benchmark for the bulls. The main reason for such a large-scale correction is the spread of news that Russia has launched a military operation in Ukraine.…

The bitcoin price has suffered a fatal drop of 23% over the current week to a critical support level, which is at $34,000. This price level is a key benchmark for the bulls. The main reason for such a large-scale correction is the spread of news that Russia has launched a military operation in Ukraine.…