Bitcoin may have bottomed out – The worst may be over for the Crypto markets
Bitcoin soared above $22,000 and Ether above $1,500 on July 18, raising hopes that the worst may be over for the cryptocurrency markets. Bitcoin’s recovery started on July 13 even as the United States inflation in the month of June hit a 40-year high of 9.1%, much higher than economist expectations of 8.8%, according to Refinitiv.
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Crypto Bull Run: Has Bitcoin started Sustainable Rally or Dead Cat Bounce?
Bitcoin decoupled from the US equities market last week but not the way the bulls may have wanted. The largest cryptocurrency by market capitalisation painted a record ninth red weekly candle last week while the US equities markets rose more than 6%.
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Cryptocurrency Prediction: Bitcoin Could Plunge to $25,000
Fears of a recession, supply chain issues, a China lockdown, and tightening monetary conditions led investors to trim exposure to risky assets last week.
The Dow Jones Industrial Average recorded its first-ever eighth-straight weekly loss since 1923. Identically,
Bitcoin also made history by closing in the red for the eighth consecutive week.
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Bitcoin Price has Bottomed Out – When is The Best Time to Invest in Crypto?
The crypto markets witnessed panic selling last week after Terra’s LUNA token and the algorithmic stablecoin UST collapsed. The selling exacerbated further after the largest stablecoin tether (USDT) lost its dollar peg briefly. That pulled Bitcoin price to its lowest level since December 2020.
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Investing In Crisis – Bitcoin Buying Opportunities Will Arise Soon
Bitcoin Price plunged below $30,000 on May 10 for the first time since July 2021. After the latest decline, Bitcoin has fallen more than 56% from its all-time high of $69,000 made on November 10, 2021.
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Look Beyond Bitcoin – 5 Best Altcoins to Shine in 2022
Bitcoin has pulled back this week on indications that the US Federal Reserve may raise rates at a faster face to combat surging inflation. The CME’s FedWatch Tool projects a 75% possibility of a 50 basis point hike in the next Federal Reserve meeting in May.
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