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[ammu40]

Cryptocurrencies, including Bitcoin, experienced a decline in tandem with the stock market as risk sentiment weakened amid global economic concerns. Bitcoin's price fell 1.5% over the past 24 hours to $28,800, retreating from the psychologically significant $30,000 level it recently surpassed after 10 months. The $30,000 zone is considered crucial as it marks the level where the bear market intensified in June last year. Despite reaching highs of around $31,000, Bitcoin has struggled to sustain gains or make further progress.

 

[Riberet19]

Yes, apart from economic concerns, the threat of more interest hikes by members of the Federal Reserve we also have to add the bad business results of certain companies and the negative forecasts of future results, this will cause the price to continue its decline, I believe that what will bring Bitcoin back into an uptrend in the future is the cessation of tightening monetary conditions.

 

[Gamer01]

That would only happen when there is more inflow of money into the development sector which I doubt would happen as everyone knows the inflation is soaring so people are saving in gold and investing in crypto indeed .

 

[Riberet19]

That would only happen when there is more inflow of money into the development sector which I doubt would happen as everyone knows the inflation is soaring so people are saving in gold and investing in crypto indeed .

Sincerely when interest rates rise and there are monetary restrictions, investment is reduced even for the richest companies and entities since they make a lot of use of debt to invest and this will reduce their investment possibilities, added to the high level of inflation that is reducing the savings of the average citizen and more economic problems, no doubt investment is one of the economic pillars that will be reduced, that is why it is illogical to expect increases in prices sustained over time in the stock market for now.

 

[Gamer01]

You are right and such pressure also affects the crypto markets as well when one market that was actually having some of the best growth is so much on the verge that is hardly moving and is always pegged back again to original limits.

 

[btaliat]

Ever since the price crossed $31,000 threshold, the price of Bitcoin has been dwindling. At present, the price is hovering between $27,000 and $28, 000. There have been many speculations that the price may still gear up. Until then, we need to invest wisely.

 

[Gamer01]

Yes the price is currently in speculation mode and not many people are ready to take the risk at this point they know that anything can happen at this point and therefore one must be ready to face the heat at this point if investing.

 

[Gen Evie]

One threshold is US$30,000, a level the coin briefly touched last month during a brutal selloff. But breaching that round-number level, could trigger another wave of selling given the lack of technical support between US$20,000 and US$30,000. I hope to see bitcoins bullish signals again..can't wait.