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Will There Be a New Explosion in Bitcoin (BTC)?
Accumulation continues in Bitcoin.
The leading cryptocurrency Bitcoin (BTC) has lost nearly 2% of its value as of today. BTC's 2% drop caused many low-cap altcoins to lose more than 5%.
Bitcoin dominance table is experiencing a gradual rise despite the declines of BTC as of today. BTC dominance is suppressing altcoins.
When we look at the last 7 days, it is observed that Bitcoin is stuck in the range of 29,800 - 31,400. The prolongation of the accumulation process in BTC increases the severity of the explosion that will be experienced in the coming days.
What Could Happen in Bitcoin (BTC) in the Coming Days?
The leading cryptocurrency Bitcoin (BTC) is trading at $ 30,150 at the time of writing our news. Some of the statements of Jerome Powell, the chairman of the US Federal Reserve (FED), brought a decline in the market today.
As of now, the fact that Bitcoin is still above 30 thousand dollars gives altcoin investors hope for the coming days.
In the following hours, Bitcoin's closing below $ 29,800 after 7 days will cause it to decline to $ 28 thousand in a short time.
Bitcoin's reaction from $ 29,800 to $ 31,500 may cause the FOMO on investors to flare up again.
If BTC surpasses the $ 31,500 resistance in the short term, it will ensure the growth of the bull in the crypto market. In such a scenario, Bitcoin's first target could be $34,000.
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