Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.
A rally into the close managed to lift the S&P and Nasdaq out of negative territory for a gain of 0.14% and 0.32%, respectively, while the Dow finished flat. “Needless to say, caution is advised especially if you’ve got any leveraged positions open,” Bloodgood warned. “Apart from BTC reclaiming the $70k level, not much has changed,” Bloodgood noted. “Times are uncertain as we are about to have a BTC halving right after making a fresh ATH – which isn’t how cycles typically look – so we’re definitely in uncharted territory.”
“Apart from a Bitcoin ATH before the halving, another thing that makes this cycle unusual is that memecoins are capturing so much attention – and so persistently – when BTC is barely above the previous ATH,” he said. “While some see this as a top signal, I think it’s got more to do with the ‘normie-friendly’ nature of memecoins.”
According to MN Trading founder Michaël van de Poppe, in the near term, Bitcoin is likely to trade sideways and consolidate until sometime after the halving.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »