Can Bitcoin Continue Its Rally And Sustain Above $30,000?

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Bitcoin (BTC) is rapidly approaching the crucial $31,000 resistance level, leaving investors and traders with great excitement for the upcoming price action. Despite numerous market hurdles, the world’s most well-known cryptocurrency has shown itself to be remarkably stable as its value has steadily increased.

Will Bitcoin be able to surpass all expectations and reach new highs, or will the resistance be too strong to break? In this article, we will examine the various factors shaping Bitcoin’s price and provide valuable insights into the possible future development of the cryptocurrency.

This is how the price of bitcoin is currently:

In terms of technical analysis, the BTC/USD pair is showing a definite uptrend and is moving towards the $31,000 level. If this threshold is breached, Bitcoin could face resistance at $31,600 before potentially rallying to $32,000 or even $32,250.

On the upside, Bitcoin is finding robust support around $29,600. If it breaks below this level, the downtrend could extend to the $28,900 level. Bitcoin is currently trading at $30,410.

Macro data crucial for possible rally continuation

In March, US retail sales fell 1%, suggesting that the winter shopping frenzy is cooling off and consumers are adjusting to a period of reduced demand. This slowdown in the retail sector may also impact the economy and financial markets, including cryptocurrencies like bitcoin.

Given this development, market participants are speculating that the US Federal Reserve will raise interest rates by a quarter of a percentage point next month. In response, bitcoin prices are down 1.31% over the past 24 hours as investors turn their attention to traditional assets like stocks.

The US Federal Reserve plans another rate hike in May before suspending monetary tightening and hitting its highest level since the 2007 global financial crisis. However, inflation could be higher than expected, leading investors to be cautious.

As market participants prepare for the upcoming May rate hike, questions are rising about the potential impact on Bitcoin’s performance. Tighter monetary policy typically results in a stronger US dollar and increased pressure on riskier assets. However, some experts think this rate hike could mark the peak of the tightening cycle.

If true, Bitcoin could benefit from subsequent monetary easing as investors seek alternative assets to hedge against inflation and currency depreciation. Bitcoin’s current rally could thus continue or stall depending on monetary policy decisions and changing market conditions.

Peter Brands Frima Factor LL opens massive bitcoin long position

Respected fund manager and macroeconomics expert Dan Tapiero is bullish on Bitcoin (BTC) in a recent interview with Anthony Pompliano. He predicts that the market cap of the leading cryptocurrency could surge into the 14-digit range.

Tapiero sees the potential for Bitcoin’s market cap, currently just under $600 billion, to grow as high as $10 trillion. He thinks a range between $5 trillion and $8 trillion is realistic and even thinks a rise to $10 trillion is also possible. Given the current global economic climate, Tapiero believes that Bitcoin can likely reach a price of up to half a million dollars. He thinks $300,000 to $500,000 is a fair value considering the value of other assets around the world.

In terms of the total value of all crypto assets, Tapiero expects the total market cap to increase by more than 600% from current levels. He originally thought that the value of the crypto sector would grow to $10 trillion, a 30x increase in 10 years. However, he now believes that the value will actually be well over $10 trillion as it gradually covers all areas.

This includes not only money, stores of value, programmable contracts, DeFi (decentralized finance), NFTs (non-fungible tokens) and stablecoins, but also many other use cases. The total crypto market cap at the time of writing is approximately $1.34 trillion. Tapiero’s statements underscore the tremendous growth potential of Bitcoin and the entire cryptocurrency industry, which is important for investors and enthusiasts alike.

Renowned fund manager even considers $10 trillion Bitcoin market capitalization to be realistic

Peter Brandt, a reputable trader, recently revealed that his company Factor LLC is invested in five long positions, including bitcoin. Although the information was not intended for the general public, Brandt has nevertheless published his chart analysis for the respective positions.

One of the shared charts shows Bitcoin’s price history and suggests that Brandt expects the cryptocurrency to rally to $40,000. The forecast is based on a so-called fulcrum bottom pattern, which Bitcoin successfully formed and recently broke through. On April 10, Brandt published a chart showing how a surge above $29,200 triggered a buy signal.

The fulcrum bottom pattern is a recurring theme in recent analyses. It forms in a deep consolidation area after a long downtrend and is characterized by a failed bounce in the middle, followed by several weaker rallies before a final breakout over the so-called “walls” of the pattern.

In addition to the Fulcrum bottom pattern, Brandt also appears to have identified a bullish megaphone pattern on his Bitcoin chart. Analyst Ali Martinez recently shared this pattern, predicting that as long as the bullish megaphone pattern continues to guide price, bitcoin is on track to reach $34,000. Accordingly, Brandt’s current analysis anticipates that Bitcoin’s rally will continue to near $40,000. On March 20, he tweeted that he expects Bitcoin to hit a new all-time high above $69,000 within the next 12 months. Brandt also stressed the importance of focusing on facts given the amount of disinformation surrounding crypto. The aforementioned statements and forecasts by Brandt underscore the potential for a continuation of the positive development of Bitcoin and may be of interest to investors and crypto enthusiasts.

This crypto project is based on the sustainability trend and will overshadow Bitcoin in terms of value appreciation

EcoTerra represents a green crypto initiative that aims to increase trust and transparency through the use of blockchain technology while making the recycling process greener. With the Recycle2Earn principle, participants are rewarded for recycling waste by receiving digital tokens that can later be exchanged for goods and services. The aim is to combine sustainability and modern technology to promote an environmentally friendly future. For investors who value sustainable investments EcoTerra an interesting possibility.

The project has developed a circular economy model in which recycled materials are channeled to recycling companies. These companies sort the materials and make them available on the EcoTerra Marketplace for recycled products. Also operates EcoTerra a verified trading platform for CO₂ certificates and recyclable materials.

Ecoterra-The-next-evolution-step-of-recycling

The system includes four key areas: the Recycle2Earn application, the marketplace for carbon credits, the marketplace for recycled materials and the transparent monitoring of environmental impacts. The ECOTERRA token plays a central role within the platform, serving both as a utility token enabling transactions and as an investment token.

The Pre-sale of the project has already started offering early bird discounts for access to the EcoTerra Recycle2Earn program. Investors have an opportunity to invest in a crypto project with real environmental benefits. EcoTerra relies on the combination of sustainability and technology and could thus play an important role in the crypto community in the future.



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