Yesterday the rose price of bitcoin (BTC) at 14.5%, this is of course an unbelievably high rise. Today, therefore, I am talking about three reasons why this 14.5% increase occurred. In addition, I tell you what level Bitcoin can go to in the short and long term. The first reason has to do with the eBay website† eBay has indicated that it is considering accepting crypto payments. Since people are already non-fungible tokens (NFTs) on eBay, accepting crypto payments does not seem impossible. As multiple platforms consider accepting crypto as a means of payment, crypto adoption is increasing, which may increase the demand for crypto.
Bitcoin price to resistance or support?
The second reason has to do with the situation with Russia and Ukraine. The Russian ruble is falling incredibly fast in value against the US dollar. As a result, the Russian population is looking for a means of payment that retains its value. In addition to gold, we see that Bitcoin is also seen by them as a good option. Due to the fall of the ruble, the demand for Bitcoin goes up enormously, causing the price of Bitcoin to rise.
The 3rd reason for Bitcoin’s huge surge has to do with its technical analysis. $37,000 is an important support level for Bitcoin. Where is Bitcoin going? I personally think that $45,000 is going to be a very important point for Bitcoin. My guess is that if we stay below $45,000 there will be another downward correction. If we go through the $45,000 level, I think we could continue to climb further.
I myself dived into the world of crypto at the end of 2019 and have also delved more into equities from the beginning of 2020. I have now found my life mission: a financially healthy life for everyone. At my Engels- on Dutch I make videos about crypto and stocks under the name ‘Nesami’ on YouTube channels, using my FUPITA method: fundamental, financial and technical analysis. When it comes to crypto, I follow the latest developments in bitcoin, altcoins and NFTs. Are you curious how I can help you with investing in crypto and stocks? Then take a look at my website!
–
