Over the past month, the crypto market’s flagship rose in value significantly. Bitcoin managed to stay firmly above the key mark of $22,000, despite all the macroeconomic problems. The coin faced strong resistance near the level of $24,000, but many experts are positive about the future prospects of BTC.
Cryptocurrency analyst Seth published a post on Twitter where he noted that bitcoin is still holding above the SMA-50 moving average on the monthly interval. He also drew attention to his earlier post in which he advised to open long positions at the bitcoin price of $16,000. Since then, the crypto market flagship has added more than 42% in value. Overall, Seth believes that buyers will try to realize their potential once again in the near term.
Michael van de Poppet’s Opinion.
A well-known analyst Michael van de Poppe also expressed his opinion. He did not rule out a short-term drawdown closer to $21,700. However the buyers clearly retain their enthusiasm, and therefore the bullish rally with a large degree of probability will continue.
Despite positive assessments by many experts, there are still questions about the Fed’s future actions. The latest U.S. labor market data showed that unemployment in the U.S. is at its lowest level in the last 50 years.