Technical Analysis of BTC|USD for June 24, 2022
Crypto Industry News: Although stages of panic appear cyclically in the world of cryptocurrencies, we have not seen such disastrous moods in the global markets for at least over a decade. What does this mean for Bitcoin? Are the nearly 12-year increases at risk today? I will try to present arguments in favor of Bitcoin and key cryptocurrencies remaining afloat, and point to the risks that may cause further sell-offs or, at worst, a record-breaking bad market sentiment. What speaks for Bitcoin''s recovery? -The price of Bitcoin in the past has recovered fairly quickly after breaking below the 200-day moving average of 200MA that we saw last Saturday; -The blockchain technology behind Bitcoin is of interest to the world''s largest financial institutions, such as BlackRock, JP Morgan, and companies such as Microsoft or KPMG, which use it to optimize transaction processes and approve payments; -In time, access to the Internet will also be granted to the inhabitants of the currently poorer regions of the Earth enjoying positive natural growth (Africa, South America), thanks to which by 2030 the number of Internet users may even double.
Technical Analysis of BTC|USD for June 24, 2022
Crypto Industry News: Although stages of panic appear cyclically in the world of cryptocurrencies, we have not seen such disastrous moods in the global markets for at least over a decade. What does this mean for Bitcoin? Are the nearly 12-year increases at risk today? I will try to present arguments in favor of Bitcoin and key cryptocurrencies remaining afloat, and point to the risks that may cause further sell-offs or, at worst, a record-breaking bad market sentiment. What speaks for Bitcoin''s recovery? -The price of Bitcoin in the past has recovered fairly quickly after breaking below the 200-day moving average of 200MA that we saw last Saturday; -The blockchain technology behind Bitcoin is of interest to the world''s largest financial institutions, such as BlackRock, JP Morgan, and companies such as Microsoft or KPMG, which use it to optimize transaction processes and approve payments; -In time, access to the Internet will also be granted to the inhabitants of the currently poorer regions of the Earth enjoying positive natural growth (Africa, South America), thanks to which by 2030 the number of Internet users may even double.