The largest cryptocurrency rose as much as 0.6% to $41,500 on Thursday, gaining for a second day. Katie Stockton, co-founder of Fairlead Strategies LLC, said technical indicators she follows suggest Bitcoin could be due for a short-term bounce to as high as $51,000, assuming it can break through its 200-day moving average, which stands at just above $48,000.Bitcoin has been largely stuck in a range of about $35,000 to $45,000 this year.
The tighter link with stocks worked in crypto’s favor on Thursday, as coins broadly tracked advances in Asian stock markets. China’s State Council said Wednesday it will “step up financial support to the real economy, especially industries and small businesses that have been hit hard by the pandemic.”
“Bitcoin looks attractive to buy dips after falling to test a nearly three-month trend connecting prior lows since early January,” said Mark Newton, managing director and head of technical strategy at Fundstrat. The token “should bounce over the next week, with upside targets at $43,750 up to $44,200 which looks like the first meaningful upside target,” he added.
Bitcoin’s struggles have shined a spotlight on so-called altcoins like Cardano, Avalanche and Solana, which have outperformed it recently. Even the second-biggest token Ether is up 24% in the past month, compared with Bitcoin’s rise of around 7%.Both Stockton and Newton offered notes of caution about the sustainability of Bitcoin’s recovery.
Should Bitcoin fall back below $40,000, it would run the risk of sliding to a “secondary support” level of close to $27,200,” according to Stockton. Bitcoin hasn’t traded that low since December 2020.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Business Maverick: Bitcoin Reclaims $40,000; Shiba Inu Surges on Robinhood ListingBitcoin climbed back above $40,000 amid a broad rally in financial markets, while day-trading favorite Shiba Inu surged more than 20%.
Källa: dailymaverick - 🏆 3. / 84 Läs mer »
Business Maverick: South Africa Halts Shipping at Key Harbor After FloodsSouth Africa suspended shipping at its main port in Durban after incessant heavy rains and resultant flooding damaged roads leading to the harbour. Was this a copy and paste? Harbor not harbour? Maybe from Bloomberg?
Källa: dailymaverick - 🏆 3. / 84 Läs mer »
Business Maverick: A Quarter-Billion More People Face Extreme Poverty, Oxfam SaysThe impacts of Covid-19, rising global inequality and soaring food prices caused by the war in Ukraine are set to send more than a quarter-billion more people into poverty this year, according to charity group Oxfam International. I know we all probably must have heard about Bitcoin but don't know how it works, I tried it in a week ago by a man who recommended me to Oliviatrading2 on Twitter She guides me through and i made a return of R155,00 after a week of trading, connect with her I won't be sharing this good news on how am getting paid from Oliviatrading2 platform if I didn't see others testifying I was doubting but now that am experiencing how great her platform work.I also recommend you to Oliviatrading2 bitcoin mining for safe and secured investment Behind every successful person there's always a helper Oliviatrading2 is the person behind my success story she helped me earn R400,000. thanks for restoring my hope once again Oliviatrading2
Källa: dailymaverick - 🏆 3. / 84 Läs mer »
Business Maverick: Ukraine Update: US Warns India Over Russian Energy ImportsUS President Joe Biden warned his Indian counterpart Narendra Modi against increasing Russian energy imports, while Austrian Chancellor Karl Nehammer said he was pessimistic over peace prospects after becoming the first European Union leader to visit Vladimir Putin in Moscow since the start of the war. Im a carpenter I got retrenched in 2020. Im struggling to find employment. My children often cry themselves to sleep because they sleep hungry😭. I don't feel like a man because of that💔. I ask for any food nearing their expiry date🙏🏻
Källa: dailymaverick - 🏆 3. / 84 Läs mer »
Business Maverick: West Africa Oil Still Unloved Despite Post-Ukraine Supply WoesRussia’s invasion of Ukraine has caused one of the biggest upheavals to global petroleum markets in living memory. It still isn’t resulting in a clamor for replacement barrels from west Africa.
Källa: dailymaverick - 🏆 3. / 84 Läs mer »
Business Maverick: Soaring Prices Reach Asia to Bring Global Inflation In SyncThe world is now facing a synchronised inflation outbreak as food and energy prices surge in Asia, a shift from just a few months ago when the region appeared to avoid the price fever gripping the US and parts of Europe.
Källa: dailymaverick - 🏆 3. / 84 Läs mer »