Bitcoin rebounds and exceeds the $68,000 level, how will it continue?

Bitcoin rebounds and exceeds the ,000 level, how will it continue?

Despite the recovery observed this Monday, some analysts warn about the possibility of it entering a risk phase before its next halving.

Depositphotos

After a few days in which most cryptocurrencies experienced a decrease in value, Bitcoin starts the week with an increase close to 2%. This boost is significant for the leading cryptocurrency, which after reaching all-time highs last week, now exceeds $68,000.

As for the rest of the crypto market, Ethereum increases 1.70%, reaching US$3,621.67, while Solana climbs 10%, reaching US$202.02. The price of XRP has registered an increase of 1.57%, reaching $0.6219, and Cardano advances 1.12%, reaching $0.6751.

In mid-March, Bitcoin hit a new all-time high of $73,700, but has since seen a 9% drop. Despite the recovery observed this Monday, some analysts warn about the possibility of entering a risk phase before its next halving.

It is important to remember that during the 2016 Halving, BTC experienced a 40% decrease, and in 2020 it lost 20% of its value. The next halving is scheduled for April 20.

Bitcoin: what the market analyzes

However, other experts suggest that there may only be a superficial correction, as they anticipate that lower levels could attract solid buying from investors in the ETFs of Bitcoin spot.

So far this year, Bitcoin is up approximately 70%. Since it reached lows around US$38,500 on January 23, it has experienced notable growth. On March 5, it broke its own record for the first time since November 2021 by exceeding $69,000.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts

Poor demand for the Breop

Poor demand for the Breop

The monetary authority awarded only US $ 9 million in the third tender of the fourth series of these bonds that seek to “more flexible