stomped around enough. With the emergence of a new impulse to increase, the price of the flagship cryptocurrency returned to the increase. The fact that BTC managed to hold above the $22,700 support opens up the possibility for a rally towards the $23,500 and $25,000 targets.
It is worth paying attention to the systematic growth of the capitalization of the cryptocurrency market. It’s beautiful: the figure quickly reached $1 trillion when investors returned to buying, and now stands at $1.086 trillion. The growth of capitalization in this case is an extremely positive signal.
Among the news of the cryptocurrency market, we note the active discussion of Britcoin – digital British. The Bank of England morally agreed with this and recognized that such a digital currency has the potential to become a new form of money for households and businesses. At the same time, there is no goal to replace the fiat pound. Currencies will exist in parallel. The final decision has not yet been made.
Due to the almost 80% correlation between the BTC rate and indices, the mood in the cryptocurrency sector is favorable. The American stock market, for all its tendency to reflect on the Fed’s position on rates, quietly rejoices at the minimum step of growth in the indicator. This allows companies and businesses to slightly raise their revenue and profit forecasts. Shares are in demand again, the prospects are slightly noticeable, but improving.
If you look at the general market indicator of “fear and greed”, you can clearly see a change in sentiment in favor of purchases. Greed is back in fashion, so why not take advantage of it?
