Markets and cryptocurrency markets are focused on the steps that can be taken to combat the rising inflation in the USA and the tension between Russia and Ukraine. Bitcoin (BTC) At the time of writing, it is trading at $ 43,658.
If $42,000 Stays as Support, Price Could Start Rising
bitcoin price It hovers around the $44,000 support and traders are hopeful that an inverted head and shoulders chart pattern will lead to a sustained rally. However, concerns are seen as BTC returning to the $43,000 region, causing some analysts and major market players to doubt it.
For example, Charlie Munger, vice president of Berkshire Hathaway, “immediately” bans Bitcoin and other cryptocurrencies at the Daily Journal’s annual shareholder meeting in Los Angeles, demanding that other countries follow China’s moves.
“I wish it was banned sooner. I admire the Chinese for banning it.”
The vice president stressed that he was “proud” to stay away from cryptocurrencies over the years. Last February, he compared Bitcoin to a “bit”.
This is Tesla CEO Elon Musk noticed by. According to some journalists, Musk addressed the controversial comments about the cryptocurrency by recalling how the latter disparaged the groundbreaking e-car maker.
He claimed that Munger once told “the whole table” that the company would fail at lunch. While Musk admitted that this negative comment upset him, he told Munger that despite the low chance of success, it was “worth a try” to make Tesla successful.
I was at a lunch with Munger in 2009 where he told the whole table all the ways Tesla would fail.
Made me quite sad, but I told him I agreed with all those reasons & that we would probably die, but it was worth trying anyway.
— Elon Musk (@elonmusk) February 16, 2022
“BTC is what ABC says or does not say, and there are many factors to consider. Things will be different if we consider Equilibrium Volume (OBV), a momentum indicator that uses volume flow to predict changes in an asset’s price.”
Williams%R oscillator Analyst and Twitter user Caleb Fransen, who published a chart containing This momentum indicator measures overbought and oversold levels. The full swing from “oversold” to “overbought” represents a spike in momentum for Bitcoin that has occurred six times since January 2020.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.