Bitcoin's journey back to $30,000
The crypto market is buzzing with optimism. Here's why the $40,000 milestone is looking promising:
1️⃣ Bitcoin Dominance (BTC.D) on the rise for 10 straight days, currently at 52.71%. Investors prefer BTC's "safe haven" status due to global uncertainties.
2️⃣ Similarities to past events, like the Russia-Ukraine war, suggest a potential 50% bounce, propelling BTC above $40,000.
3️⃣ Long-term holders gaining momentum, with 3 million more BTC acquired since the previous all-time high. Confidence in Bitcoin as a safe haven is growing.
4️⃣ Lesser BTC in the hands of short-term traders creates scarcity, potentially fueling the rally.
Key resistance at $30,130, but a breakout could lead to a surge past $35,000.
Keep an eye on the $25,000 support level; it's crucial for the bullish momentum.
Exciting times in the crypto world! #etf #bnbgreenfield #BTC #crypto2023 #trading