Are Bitcoin and Altcoins about to rebound?
As the Bank of Japan keeps interest rates stable, risk assets such as cryptocurrencies are enjoying gains. Bitcoin price surged 3%, further approaching $64,000. On the other hand, altcoins led by Ethereum rose between 4-10%.
Bitcoin showed strength for the first time in nearly four years after the Fed cut interest rates earlier this week. Interestingly, this strong recovery did not bring any strong FOMO according to data from Sanitment. This shows that the recovery in the Bitcoin and altcoin markets is healthy and can continue to go.
From the technical chart, Ethereum price also showed signs of recovery from the recent rise. Although Vitalik Buterin address recently transferred ETH, the chart below shows a strong recovery with the possibility of a rebound to $5,000.
Firmly bullish, stick to fixed investment! Waiting for the outbreak of the bull market.
