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Global Outlook: The weekend ends with $BTC impressive growth to $70,000, the cryptocurrency didn't quite manage to hold its ground, experiencing a slight retreat. Looking ahead, what might this week bring? My anticipation is set on witnessing new all-time highs. This could be driven by the ongoing bull run that's been propelling the market upwards. However, the dip in trading volumes over the weekend seems to have capped the asset's further ascent. šŸš€ I'm foreseeing a return to the $70,000 mark as the week kicks off, with Bitcoin not only reclaiming this level but also soaring beyond it. Local Forecast: The coming days are expected to see Bitcoin's price climb, reaching and surpassing previous peaks. šŸ‘€ Key Levels: Resistance Points: $70,200 and $73,800. Support Levels: $63,161 and $60,700. #BullorBear

Global Outlook: The weekend ends with $BTC impressive growth to $70,000, the cryptocurrency didn't quite manage to hold its ground, experiencing a slight retreat. Looking ahead, what might this week bring?

My anticipation is set on witnessing new all-time highs. This could be driven by the ongoing bull run that's been propelling the market upwards. However, the dip in trading volumes over the weekend seems to have capped the asset's further ascent.

šŸš€ I'm foreseeing a return to the $70,000 mark as the week kicks off, with Bitcoin not only reclaiming this level but also soaring beyond it.

Local Forecast: The coming days are expected to see Bitcoin's price climb, reaching and surpassing previous peaks.

šŸ‘€ Key Levels:

Resistance Points: $70,200 and $73,800.

Support Levels: $63,161 and $60,700. #BullorBear

Disclaimer: Includes third-party opinions. No financial advice.Ā See T&Cs.
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Why did the price struggle for most of 2023? Itā€™s impossible to assign a single clear cause behind bitcoinā€™s price action, but here are some possible reasons: The Wall Street Journal reported that Elon Muskā€™s spacecraft manufacturing company, SpaceX, may have sold part or all of its bitcoin holdings. Analysts expected the American central bank to keep hiking interest rates. This makes borrowing more expensive and potentially hamper spending on cryptocurrency, with investors instead favouring safer, traditional investing routes. Evergrande, a Chinese property development giant, has recently filed for bankruptcy. There are fears that due to the size of the firm, the collapse will send ripples through the Chinese economy and hamper confidence, lowering cryptocurrency investment While inflation has fallen in several developed countries, there are still fears that it could remain historically high for some time. This can have a negative effect on consumer confidence and spending on cryptocurrency. The cryptocurrency market has begun to face regulation in several major countries including China and United States ā€“ and therefore a stricter framework of rules. This has seen cryptocurrency exchanges such as Bittrex forced to shut down. But while regulation could harm cryptocurrency prices in the short term, stricter policing of the market is overall considered to be a good thing. Itā€™s not just the cryptocurrency market suffering. Global stocks have had a difficult year as result of: The war in Ukraine Inflationary fears Higher interest rates, which have made it more expensive for businesses to borrow money Turbulence in the stock market has spilled over into the cryptocurrency space. $BTC #bitcoinhalving #Memecoins #cpi
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Hereā€™s what happened in crypto today. 2024-04-12 A software engineer who hacked smart contracts on two decentralized exchanges was sentenced to three years in prison in New York. Chinese fraud victims are turning to the United Kingdom government for help with recovering over $4 billion worth of Bitcoin seized by authorities. Meanwhile, an upcoming Ethereum upgrade will introduce a ā€œsocial recoveryā€ feature for wallets, potentially making lost private keys a thing of the past. Crypto exchange hacker receives prison sentence Computer engineer Shakeeb Ahmed was sentenced to three years in prison, followed by three years of supervised release for his role in flash loan attacks on two decentralized exchanges. The sentence was handed down in the Southern New York District Court, with U.S. Attorney Damian Williams claiming it was the first conviction for a smart contract hack. Ahmed was also ordered to forfeit $12.3 million and a large portion of his crypto holdings, with part of the proceeds going toward a $5 million restitution payment for the affected exchanges. Ahmed was the hacker behind the flash loan attacks targeting Crypto Exchange and the Nirvana exchange in 2022. At the time, Nirvanaā€™s NIRV stablecoin depegged from the U.S. dollar, with its native token, ANA, plunging by 85%. The court also claimed that Ahmed laundered the hacked funds using Monero, overseas crypto exchanges, and crypto mixers. Fraud victims want China to recover $4.3 billion worth of $BTC A group representing the scam victims reportedly submitted a letter to the Ministry of Foreign Affairs of China requesting it to negotiate with the U.K. government to recover the seized Bitcoin. The funds were taken through a $6.2 billion investment scheme conducted by Tianjin Lantian Gerui Electronic Technology from 2014 to 2017. U.K. authorities seized the cryptocurrency after former hospitality worker Jian Wen attempted to launder funds by buying a $30 million mansion with BTC. The purchase failed when Wen could not explain the source of the funds. #CryptocurrencyAlert
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