The fact that Bitcoin has been trading above the $30,000 level for about three weeks has created some optimism in investors. During this period, it was observed that the market was affected by various factors. In particular, events such as legal obstacles and global economic uncertainties have led to fluctuations in Bitcoin price. However, despite such challenges, Bitcoin has shown resilience and has shown signs of recovery.
Some market experts point out that Bitcoin tends to exit the bear market. For example, one of the popular analysts, PlanB, is one of the analysts who think that the bear market is over. PlanB congratulated the crypto community for surviving what it called “the worst Bitcoin bear market ever.” to share He also added the Bitcoin 200-Week Moving Average chart, which shows that the BTC price is currently closing above the trendline. This is considered a long-term indicator and generally increases the likelihood of Bitcoin going into a bull market.
Popular analysts such as PlanB also expressed their optimism during this period, raising hopes in the crypto community. However, the price of Bitcoin still faces uncertainties and caution is necessary to see how future developments in the market will take shape.
As a result, Bitcoin has managed to hold above the psychologically important $30,000 level for the past three weeks. Analysts state that Bitcoin tends to exit the bear market and long-term indicators also support this. However, given the uncertainties in the market, it is important to carefully monitor future developments.
You can follow the current price action here.