Bitcoin Exceeds $40000 for the First Time in Two Weeks

Bitcoin

Bitcoin (BTC) reached a two-week high point on Friday, crypto traders grew more optimistic that the market had stabilized after a recent fall, but some analysts cautioned of the possibility of a short squeeze.

Bitcoin Exceeds $40000 for the First Time in Two Weeks

Bitcoin’s price has surged 8.9% in the previous 24 hours to over $40,219, breaking above the psychological barrier of $40,000 for the first time since January 22.

The most valued cryptocurrency is still a long way from its all-time high of about $69,000 set in December.

“Several attempts on the downside have not been successful anymore as the risk has been taken out,” said Daniel Kukan, a senior trader at Crypto Finance AG.

Daniel Kukan mentioned that his next price target is roughly $42,000 to $43,000.

According to him, market support is $33,000 – or $28,000 in the worst-case scenario, “which we have not touched.”

Bitcoin has broken beyond the top of its weekly price range after maintaining intraday support above the $35,000 to $37,000 zone.

“Although there were concerns about quickening monetary policy, there is now a consensus among many capital markets that a 50 basis point rate hike is priced in given recent movements in equity markets,” says Hayden Hughes, CEO of Alpha Impact, a trading social media platform. Not to mention the $320 million in reparations from the Wormhole breach and oversold technical levels, which contributed to the improving attitude.

>Bitcoin Exceeds $40000 for the First Time in Two Weeks

WhatsApp Job & Scholarship Alert

LTo get daily Job and Scholarship Alerts on Whatsapp, Join Our WhatsApp Group via the link below.

See also  Phone models that will not support WhatsApp from November

NOTE: PLEASE IF YOU’RE ON ANY OF OUR WHATSAPP GROUPS, DON’T JOIN THIS ONE

CLICK HERE TO JOIN WHATSAPP GROUP

 

Take Note

UNDER NO CIRCUMSTANCE SHOULD AN APPLICANT PAY MONEY TO ANYONE IN GETTING A JOB WE HAVE PUBLISHED 

LEAVE A REPLY

Please enter your comment!
Please enter your name here