Bitcoin and crypto prices soared last week as Russia’s invasion of Ukraine first sank the market and then triggered a rally of Bitcoin and cryptocurrencies.
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Bitcoin prices jumped to $ 45,000 this week following rising interest in Bitcoin from Russia’s billionaires and oligarchs, who fear sanctions, after dropping to a low of $ 35,000 per bitcoin last week. The other top 10 coins Ethereum, BNB, Solana, Cardano and XRP also show significant price fluctuations.
Bitcoin prices have fallen as the situation in Russia and Ukraine can be severe and trigger new crypto regulations. However, many Bitcoin and crypto investors find it bright and are making bold crypto price forecasts.
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Bitcoin prices rose last week in anticipation of it and other cryptocurrencies .. .. [+]
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“At this point, we don’t know why this price is slowing,” Nigel Green, CEO of financial advisory group deVere, said in an email. Bitcoin prices will be at the end of March. It is expected to reach $ 50,000 by.
“It’s too early to say whether we’ll reach a record $ 68,000 from November 2021. But it’s not a big leap from $ 50,000 to $ 68,000, and the world and crypto markets are accelerating recently. Rate. It certainly isn’t out of the realm of possibilities. “
Green pointed out the situation in Ukraine and Russia and the “serious financial turmoil” that caused it as the reason for the recent rise in Bitcoin prices.
“When banks are closed, ATMs run out of money, threats of personal savings are used to pay for war, and SWIFT, the leading international payment system, is viable, decentralized and borderless, among other factors. So, we are given a weapon in the case of tamper-proof. The monetary system that cannot be confiscated has been revealed, “he added,” the situation of the dollar reserve could eventually be at stake. ” ..
Meanwhile, the Bitcoin and crypto markets are under pressure along with the stock market, with comments from Federal Reserve Chairman Jerome Powell saying he will push forward with the planned rate hikes this month.
“Bitcoin is developing a fix,” FxPro senior financial analyst Alex Kuptsikevich wrote in an email. “The pressure on the crypto market was driven by a decline in the stock index as the Fed showed signs of policy tightening. Technical factors also contributed to the negative dynamics. The strong resistance of the 100-day moving average cannot be overcome. That is. The high in mid-February is about $ 45,000. “
Analysts at Messari said last week, “Bitcoin seems to be separated from the S & P 500, suggesting that the conflict between Russia and Ukraine may have driven demand for digital gold substitutes and subsequently prompted a recovery for the industry as a whole. I’m doing it, “he wrote in an email.
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Bitcoin prices fluctuated sharply last year, bouncing off the recent lows of the week. .. .. [+]
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However, some warn that Bitcoin’s price should exceed $ 44,000 per bitcoin before the “bullish” momentum returns.
“Bitcoin retests its 20-day moving average at around $ 41,000 after a striking 32% rise over the past week,” said Marcus Sotilio, an analyst at GlobalBlock, a UK-based digital asset broker. Sold out to do it. ” “Bitcoin was below the $ 44,600 level of the key and could not secure a high in the daily time frame. Until this level is regained, Bitcoin will not be bullish in the daily time frame.
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