Bitcoin And altcoins Even though he had a good start to October, he couldn’t keep it up. It has struggled to maintain positive momentum this week due to rising concerns about Israel-Hmas tensions and other macroeconomic events.
After this week’s price drop BTC And cryptocurrency The market seems to have stabilized to some extent.
at this point BitcoinAnalysts evaluating the situation in the market in general believe that investors are pricing in the increase in oil prices and the decline in traditional stocks, and that the tension may affect international trade. Bitcoin and noted that the crypto market has been falling since Monday.
Some analysts stated that the current price movement in Bitcoin should not necessarily be interpreted as a bullish or bearish trend, saying that this price movement points to the balance between buyers and sellers.
Speaking to Coindesk Beam CEO Andy Bromberg said:
“Bitcoin has shown neither an upward nor a downward trend in recent days. BTC’s current movements indicated a construction phase.
There is currently an equilibrium in Bitcoin where there are few newcomers and very few exits.
This balance maintains a relatively stable price. At this point, it seems unlikely that an upward movement in the Bitcoin price will occur until catalysts such as the Bitcoin halving or the approval of spot ETFs come into play.”
Bitstamp’s US CEO Bobby Zagotta said: Bitcoinrelated to “ BitcoinIt will remain the most established, most understood and most trusted cryptocurrency available in the future. This is a sign that the BTC price will increase in the future. said.
Having decreased by approximately 3% in the last week Bitcoin At the time of writing, it seems to have stabilized at $ 26,800.
*This is not investment advice.
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