The leading cryptocurrency Bitcoin has been moving upwards continuously in the first month of 2023. After the rise, Bitcoin stalled in the range of 24,000-25,000, which is one of the important resistance levels in the last days. The said range was not exceeded in August 2022 and bitcoin He continued his free fall.
Crypto experts are commenting on the conditions under which Bitcoin can break out of this deadly price range.
“The Future of BTC Depends on Technology Stocks”
Laurent Kssis, a crypto advisor at investment firm CEC Capital, thinks technology companies can carry Bitcoin above $25,000.
In his statement, Kssis emphasized that technology companies announced terrible balance sheets last year. According to the analyst, for this reason, Bitcoin does not rise further.
The first quarter balance sheet of technology companies will be announced consecutively in March. The crypto expert expressed his opinion that BTC will continue on its way if solid balance sheets come.
Bitcoin and Nasdaq Move Together
The stock index Nasdaq, which is dominated by technology companies in the USA, moves in parallel with Bitcoin. Leader with stock index according to current data cryptocurrency The 90-day correlation coefficient between the currency units hovers around 0.75.
When looked at, the common opinion of the experts is that the further improvement of global conditions will trigger the upward movement of the crypto money market.
This article was originally published on Bitcoinsistemi.com.