Bitcoin price climbs to $21.8,000, but analysts warn move could be counterfeit
Traders rejoice after BTC prices surge 7% to $21,800, but analysts say macro trend down decline is expected to prevail for the foreseeable future.
Market Update
Hope is eternal for many crypto investors after the market saw positive price action on July 7 alongside gains in the traditional market.
Daily Cryptocurrency Market Performance. Source: Coin360The green day in the markets comes amid rising unemployment insurance claims in the US, which is a possible signal that "wage pressures may have peaked," according to Jamie Cox, managing partner of Harris Financial Group. to slow down the scale of rate hikes".
Data from Cointelegraph Markets Pro and TradingView shows that after trading near $20,400 for most of the day on July 7, the price of Bitcoin (BTC) climbed almost 7% in the afternoon to hit a daily high of $21,860.< /p>
BTC/USDT 1-day chart. Source: TradingView
As crypto devotees try to navigate the choppy waters of crypto winter in search of a market bottom, here's what several analysts predict for Bitcoin.
The trend remains negativeTwitter user "Roman" posted the following graphic indicating that "Many are getting euphoric and bullish...
Traders rejoice after BTC prices surge 7% to $21,800, but analysts say macro trend down decline is expected to prevail for the foreseeable future.
Market Update
Hope is eternal for many crypto investors after the market saw positive price action on July 7 alongside gains in the traditional market.
Daily Cryptocurrency Market Performance. Source: Coin360The green day in the markets comes amid rising unemployment insurance claims in the US, which is a possible signal that "wage pressures may have peaked," according to Jamie Cox, managing partner of Harris Financial Group. to slow down the scale of rate hikes".
Data from Cointelegraph Markets Pro and TradingView shows that after trading near $20,400 for most of the day on July 7, the price of Bitcoin (BTC) climbed almost 7% in the afternoon to hit a daily high of $21,860.< /p>
BTC/USDT 1-day chart. Source: TradingView
As crypto devotees try to navigate the choppy waters of crypto winter in search of a market bottom, here's what several analysts predict for Bitcoin.
The trend remains negativeTwitter user "Roman" posted the following graphic indicating that "Many are getting euphoric and bullish...
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