Bitcoin Breaks $40,000 Again! How Long Will Such A Price Last?
2022-03-18 10:37:30
How Much Is Bitcoin Right Now?
As we know, Bitcoin was up 60% overall for the year, despite a 2-month downturn in 2021. However, at the beginning of 2022, there was a persistent decline, with the price hovering at $38,000. Even though there was a brief rise to $44,000 in early March, it did not last long.
How Much Is Bitcoin Right Now?
The Bitcoin price has fallen by 5.06% in the past 7 days. The price increased by 0.91% in the last 24 hours. In just the past hour, the price shrunk by 1.54%. The current price is $41,455 per BTC. The current circulating supply is 18,984,593 BTC. (Source: Gate.io. Date March 16th Morning)
The last time bitcoin broke $40,000 was March 9, although it only lasted a day. The reason for this was, the U.S. Treasury Secretary Yellen's surprisingly early disclosure of President Joe Biden's upcoming executive order on cryptocurrencies. Since then it has been hovering between $38,000 and $39,000, with the price hardly rising.
Whether these are "hype gimmicks" or not, Bitcoin may be at the beginning of a major transition into the mainstream as companies like Tesla and PayPal increase their interest in Bitcoin and central banks accelerate the process of issuing digital currencies, and there has been a trend in favor of Bitcoin and against gold.
How Long Will Bitcoin's Rally Last?
Compared to March 9, when Bitcoin price live rose for a day, the price rose for just 2 hours before falling back below $40,000 this time. And causing trading volume to follow suit. While there was a 7% increase in bitcoin today, the joy was short-lived.
The Federal Reserve is reportedly planning four minimum rate hikes in 2022 and could raise rates 7-8 times if inflation is not brought under control quickly. Novogratz expects the price of Bitcoin to remain between $30,000 and $50,000 in 2022. This will be a bit difficult for those who want to make short-term investments and will need to get their timing right.
"Bitcoin would be a major 'great reset' for the market," said Bryan Solstin, D-Washington State, while running for the U.S. Senate. Such a statement has gained him some additional popular support. Perhaps it will also briefly affect bitcoin's price fluctuations in the time that follows.
However, cryptocurrency researcher Smart Contractor (anonymous) tweeted recently to his 205,500 followers that "Bitcoin is creating a short-lived bull trap of $42,000 and the price will eventually fall to $29,000." His statement like this has led some fans to ponder. Is a leverage situation coming to Bitcoin?
As we know, Bitcoin was up 60% overall for the year, despite a 2-month downturn in 2021. However, at the beginning of 2022, there was a persistent decline, with the price hovering at $38,000. Even though there was a brief rise to $44,000 in early March, it did not last long.
How Much Is Bitcoin Right Now?
The Bitcoin price has fallen by 5.06% in the past 7 days. The price increased by 0.91% in the last 24 hours. In just the past hour, the price shrunk by 1.54%. The current price is $41,455 per BTC. The current circulating supply is 18,984,593 BTC. (Source: Gate.io. Date March 16th Morning)
The last time bitcoin broke $40,000 was March 9, although it only lasted a day. The reason for this was, the U.S. Treasury Secretary Yellen's surprisingly early disclosure of President Joe Biden's upcoming executive order on cryptocurrencies. Since then it has been hovering between $38,000 and $39,000, with the price hardly rising.
Whether these are "hype gimmicks" or not, Bitcoin may be at the beginning of a major transition into the mainstream as companies like Tesla and PayPal increase their interest in Bitcoin and central banks accelerate the process of issuing digital currencies, and there has been a trend in favor of Bitcoin and against gold.
How Long Will Bitcoin's Rally Last?
Compared to March 9, when Bitcoin price live rose for a day, the price rose for just 2 hours before falling back below $40,000 this time. And causing trading volume to follow suit. While there was a 7% increase in bitcoin today, the joy was short-lived.
The Federal Reserve is reportedly planning four minimum rate hikes in 2022 and could raise rates 7-8 times if inflation is not brought under control quickly. Novogratz expects the price of Bitcoin to remain between $30,000 and $50,000 in 2022. This will be a bit difficult for those who want to make short-term investments and will need to get their timing right.
"Bitcoin would be a major 'great reset' for the market," said Bryan Solstin, D-Washington State, while running for the U.S. Senate. Such a statement has gained him some additional popular support. Perhaps it will also briefly affect bitcoin's price fluctuations in the time that follows.
However, cryptocurrency researcher Smart Contractor (anonymous) tweeted recently to his 205,500 followers that "Bitcoin is creating a short-lived bull trap of $42,000 and the price will eventually fall to $29,000." His statement like this has led some fans to ponder. Is a leverage situation coming to Bitcoin?
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