Bitcoin Finds Stability Near US$40,000! Is It Time For The Price Rally? – Tech Tribune France

Bitcoin is one of the most reliable cryptocurrencies on the market, but will it be able to maintain its position?

According to reports, Bitcoin was the most traded cryptocurrency in 2021. It is the oldest cryptocurrency on the market, and by far the most trusted. However, the crypto experienced a price swing from late 2021 to early 2022. BTC token experienced its highest average price in November, but market volatility led to its sharp fall in December 2021, then it recorded its lowest price in January 2022. A few weeks ago, around April 4-5 , prices moved above US$47,000, pretty close to US$48,000. But with volatile forces at work again, the BTC token fell below US$40,000 again, causing investors to worry about its future prospects. Although Bitcoin has always been one of those cryptos that have skyrocketed even during the worst phases of the market, its declining market capacity has caused investors to look for other cryptos to invest in. Apart from all the financial dilemmas in the market due to the pandemic, the Russian-Ukrainian war has also had a negative impact on the cryptocurrency market.

The value of Bitcoin has become even more important than the value of the ruble, the Russian fiat currency. Amid a positive price trend in the crypto market and at a time when there is a general downturn in the stock market during the ongoing geopolitical crisis, BTC investors continue to hope that the asset of Popular investment may soon rise to surpass its all-time highs and reach $100,000 by the end of 2022. But the question is, currently, according to coinmarketcapbitcoin market value is moving around US$40,000 which went straight from US$47,000 then to US$43,000, so will it be possible for Bitcoin even cross US$50,000 by the end of May? Maybe or maybe not!

How Has the Ukraine-Russia War Transformed Bitcoin’s Market Relevance?

Experts say that the Russian-Ukrainian war completely changed the crypto industry. From accepting donations in the form of cryptocurrencies to creating DAOs to manage crises, the impact of Bitcoin and other cryptocurrencies has played a huge role in handling financial crises in both countries. Experts said that since Bitcoin is the only decentralized currency that has become legal tender, unlike altcoins which are mainly involved in centralized agencies owned by organizations, Russians can use it to evade Western sanctions and can save the country in a difficult financial situation.

Will Bitcoin Break the US$40,000 Resistance Soon?

In March 2021, Bitcoin began to rise drastically, giving investors hope for a positive price rise. According to to research led by Goldman Sachs, the US Federal Reserve is predicting four interest rate hikes in 2022, and if it goes well, it could equate to at least four scarier corrections in the crypto market. With more institutional money joining the crypto market, perhaps investors should be even more cautious about the volatilities coming and going.

Well, to answer the question simply, it is quite impossible to predict whether the price of Bitcoin will rise or continue to fall, as it all depends on the sentiments of the investors. Investors are currently watching the market movements of the coin very closely. So, there will probably be a price rally and Bitcoin is just preparing for its big hit, or maybe Bitcoin will eventually lose its market dominance and the altcoins will take it!

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Bitcoin Finds Stability Near US$40,000! Is It Time For The Price Rally? – Tech Tribune France

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