Sunday, June 23, 2024

As a trader forecasts new BTC price volatility, Bitcoin kisses the 50-day moving average.

The start of another trading week on February 14th and Bitcoin is making the headlines. According to a Wall Street trader, volatility is not completely gone and is expected to make a comeback soon. According to data from Trading View and Cointelegraph Markets Pro, the BTC/USD pair gained ground on Valentine’s Day and stayed at $42,500.

Analysts were disappointed with the close on February 13th as BTC failed to scale new heights per information on the weekly chart. Though it was a fairly calm day for the markets, many expect to see a change in trends in the next few days. According to Cointelegraph’s contributor Michael van de Poppe, volatility has wreaked havoc on BTC prices. He is waiting for a heavy week of action as EU markets are providing the needed volatility.

With stocks staying flat and the Russian-Ukraine conflict easing a bit, crypto markets offered easy trading opportunities. Order volumes also highlighted the very narrow range in which BTC will act based on trader positions. This will be a short-term thing.

Many are still confident that BTC will touch the $100,000 mark in 2023. Some expected this milestone to occur by the end of 2021, but it didn’t. This was because of many factors including BTC’s lackluster performance in Q4 2021. This calm was seen in other areas of the crypto market as well, especially in the altcoins segment. Most of them remained static since the market’s weekly opening. ETH was one of these and its price remained steady at $2940.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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