Can BTC keep its price over $ 27,000?
Can BTC keep its price over $ 27,000?
The central theses
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Bitcoin in the past few days has had trouble staying over $ 27,500.
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The cryptocurrency fell slightly less than $ 27,000 on Wednesday, but is now being traded above this level.
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The purchase pressure on the market is currently low and this could affect the BTC price at short notice.
Bitcoin price forecast: BTC has trouble keeping the price over $ 27,500
Bitcoin, the world's largest cryptocurrency after market capitalization, has so far developed below average this week. BTC has lost more than 7 % of its value in the past seven days and has fallen below the $ 28,000 mark.
The leading cryptocurrency on Wednesday after corresponding reports, a strong slump there was a transaction from the US government's BTC wallet.
Bitcoin yesterday recovered from his crash and continued to list over the $ 27,700 mark. However, the poor performance has increased again and BTC has lost more than 2 % of its value today.
At the time of printing, the price of Bitcoin was $ 27,320 and could continue to decrease in the next few hours.
BTC could soon fall under $ 27,000 $
since the publication of the US inflation numbers at the beginning of this week, Bitcoin has a below-average performance. The number of inflation in the United States remains high, which indicates that the Federal Reserve could continue their interest rate increases.
If that happens, BTC could fall under the $ 24,000 mark at short notice because investors adapt to the new reality.
However, if the Federal Reserve stops its interest rate increases, assets such as Bitcoin could be one of the biggest winners.
As far as the technical analysis is concerned, it does not look good for Bitcoin at short notice. The MACD line is below the neutral zone, which indicates that there are more sellers than buyers on the market.
In addition, the 14-day RSI of 38 shows that Bitcoin could get into the oversold area if the current market situation lasts.
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Source: Coinlist.me
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