There are signs of hope for those who invested in BitcoinGiven that the cryptocurrency The most important begins to rise, in a staggered and safe way, coming out of that particular crypto-winter in which it had already been immersed for months.
All the alarms went off when Bitcoin fell below $20,000, a support that was thought to be unreachable, given that in recent weeks it has been hovering around $16,000, or a really low amount.
Now, according to data from coinmarketcapthe price of Bitcoin has experienced an improvement of 14.41% in just seven days, 3.05% in the last 24 hours and, when we talk about cryptocurrencies, that is a lot.
According to collect barronssome experts have explained the reason why Bitcoin and other cryptocurrencies are coming out of the crisis and starting to improve their records.
What the experts think
“The rally in risk over the past week has even pulled Bitcoin out of its pit of despair. Traders may harbor some hope of a move back above $20,000, a level once considered an ominous low but now potentially represents a revival signal.”, points out Craig Erlamanalyst.
The reason for this optimism is about the economic outlook, especially that which comes from the United States.
And it is that recently, in the last employment report in the United States, an improvement was estimated for 2023 in that country, and this must be added to the data from the consumer price index from last Thursday that seems to be reactivating this type of investment .
However, this will allow the Federal Reserve to reduce its aggressive pace of interest rate hikes, making this type of investment more attractive.
“Bitcoin and cryptocurrencies tend to get ahead of stocks when it comes to macro changes and pivots, so we’re probably seeing signs of this happening right now.“, it states Les Borsaichief strategy officer at crypto asset manager Wave Financial.
“It seems that more and more investors are gradually allocating more and more capital to Bitcoin and crypto. This is likely to continue, and possibly accelerate, barring exogenous shocks to the macro situation.“, Add.
“What we have experienced in the last few days in the Bitcoin and crypto market is the strongest sign yet that we have bottomed out in this cycle. And we may have already reached itBorsai points out. “We could fall further, I should warn you, but the macro environment is showing signs of easing, giving way to a possible market reversal.“.
In this way, if you did not succumb to fear, and you did not sell your Bitcoin when it was going down, now you will start to see profits if it continues the upward trend.