What's Hot

    Alternative Media Attacks Bitcoin: A Response To “Bitcoin Cannot Free Palestine”

    July 27, 2022

    Bullish Sentiment Spills Over To Institutional Investors As Ethereum Inflows Balloons

    July 27, 2022

    Wanchain AMA with Marketing Director Temujin Louie

    July 27, 2022
    Facebook Twitter Instagram
    • Altcoins
    • Bitcoin
    • Ethereum
    • Blockchain
    Facebook Twitter Instagram
    Guide to Crypto and Altcoins
    • Bitcoin

      Alternative Media Attacks Bitcoin: A Response To “Bitcoin Cannot Free Palestine”

      July 27, 2022

      Crypto Traders Split on Upcoming Fed Rate Hike’s Impact on Bitcoin

      July 27, 2022

      Bitcoin holds $21k – crypto rally still on

      July 27, 2022

      TA: Bitcoin Price Consolidates, Why Recovery Could Be Capped

      July 27, 2022

      Bitcoin Is Global Money For An Interconnected World

      July 27, 2022
    • Altcoins

      Wanchain AMA with Marketing Director Temujin Louie

      July 27, 2022

      ‘Game yet to begin’ for security token offerings, INX exec says

      July 27, 2022

      CryptoDep’s Top 5 Meme Tokens by Social Activity

      July 27, 2022

      Large Uniswap Holders Awaken, Accumulate Nearly $75,000,000 in UNI in About Two Weeks: Analytics Firm Santiment

      July 27, 2022

      Shiba Inu (SHIB) Burn Rate Continues 200% Rally Following Crypto Card Release

      July 26, 2022
    • Ethereum

      Bullish Sentiment Spills Over To Institutional Investors As Ethereum Inflows Balloons

      July 27, 2022

      Technical Analysis – Ethereum Price (ETH/USD) – 27/07/22

      July 27, 2022

      Massive Ethereum Supply Shock Incoming As ETH Prepares To Outpace Bitcoin: Raoul Pal

      July 26, 2022

      “Crypto King” Barry Silbert Hyping Up Ethereum’s Merge Upgrade

      July 26, 2022

      Institutional ETH sentiment turns positive after 11 weeks of outflows

      July 26, 2022
    • DeFi

      DeFi.org Announces Four Leading Participants in Its Polygon-Led Accelerator Program

      July 26, 2022

      DeFi Tokens Lido, Curve Follow Ethereum into Bear Territory

      July 26, 2022

      DeFi Total Value Locked (TVL) Soars By More Than $10 Billion

      July 26, 2022

      This little-known DeFi crypto token has rallied over 800% in a month

      July 26, 2022

      Solana said to be ‘more decentralized than people think,’ but there’s more

      July 26, 2022
    • NFT

      NFT potential vast and creative possibility endless, says YellowHeart CEO

      July 27, 2022

      A Complete Guide To Altcoins

      July 27, 2022

      Erick Calderon: NFT Platform Art Blocks’ Rapid Growth ‘Felt Unreasonable’

      July 26, 2022

      NFT Market Projected to Reach $200 Billion in 2030

      July 26, 2022

      The Sandbox Creating a Virtual Home & NFT Art for Alec Monopoly

      July 26, 2022
    • Mining

      The Top 5 Best Cryptocurrencies for Mining in 2022

      July 26, 2022

      Bitmain Partner Antalpha Unveils a Host of Needed Lending Products for Miners

      July 26, 2022

      AntPool Supports Ethereum Classic Ecosystem With $10M Investment

      July 26, 2022

      Texas a Bitcoin ‘hot spot’ even as heat waves affect crypto miners

      July 26, 2022

      Bitcoin mining to harness onsite natural gas emissions: Ark Invest

      July 26, 2022
    • Metaverse

      The Sandbox primary LAND sales volume fell 80% in Q2

      July 26, 2022

      HTC partners with Japan’s pixiv to launch 3D anime avatars in the metaverse

      July 26, 2022

      Wharton School launches metaverse-focused business course

      July 26, 2022

      Aftermath Islands Metaverse Limited Secures $25M Commitment from LDA Capital

      July 26, 2022

      Patents and Big Tech: Which Companies Will Rule the Metaverse?

      July 26, 2022
    • More…
      • Blockchain
      • Analytics
      • Exchange
      • Legal
      • Finance
      • Security
      • Other
    Guide to Crypto and Altcoins
    Home » Bitcoin holds $21k – crypto rally still on
    Bitcoin

    Bitcoin holds $21k – crypto rally still on

    🌐  cryptodaily.co.ukJuly 27, 2022No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The bitcoin rally that saw the number one crypto currency go from $17,500 back to $24,000 in just 5 weeks ran out of steam over the last week and has fallen back to $21,000. However, short-term RSIs have reset and it looks as though bitcoin may continue its rally depending on news to come out of the Federal Reserve FOMC meeting today.

    The day has dawned fair for bitcoin and its local low of around $20,700 has been left behind as the king of the cryptocurrencies has moved up in excess of $21,300 so far today – an increase of 3%.

    Many traders and speculators on social media are still calling for a $10k bitcoin, stating that the flush-out is still not complete and that capitulation should be a lot worse.

    A recent CoinTelegraph article expressed the concern that the $24,300 resistance was “not a good sign”, and that today was a “macro day of reckoning” for risk assets.

    This was because the Federal Reserve’s FOMC meeting takes place today, and the expectation is a 75 basis points rate rise, with an outside chance of 100 basis points, both of which would be concerning for bitcoin according to the article.

    Further to this, the article quotes an analyst known as “Crypto Tony” who gives the view on his daily Twitter post that he remains bearish as long as bitcoin remains below the range high of $22,200.

    Whatever comes out of the FOMC meeting, there is likely to be a lot of choppiness in the bitcoin price. The 0.75% rise is expected and therefore baked in, but should the 1% rise hit the market then look for a lot more tumult.

    However, many signs are in the charts that bitcoin has indeed already touched bottom and that we are now in a sideways accumulation phase readying for the next bull market.

    Yes, bitcoin and crypto have really borne the brunt of being the perceived most risky assets, but now that the whole crypto sector has been beaten down to such an extent, most sellers would arguably have sold and left the market.

    It could also be argued that the downside left to bitcoin is tiny compared with the upside of more buyers coming in, once they realise that the dollar and all other fiat currencies are continuing to be debased and that inflation is not likely to be suppressed for any reasonable length of time.

    Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

    Source: cryptodaily.co.uk
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    bitwiza
    • Website

    Related Posts

    Alternative Media Attacks Bitcoin: A Response To “Bitcoin Cannot Free Palestine”

    July 27, 2022

    Crypto Traders Split on Upcoming Fed Rate Hike’s Impact on Bitcoin

    July 27, 2022

    TA: Bitcoin Price Consolidates, Why Recovery Could Be Capped

    July 27, 2022

    Bitcoin Is Global Money For An Interconnected World

    July 27, 2022
    Add A Comment

    Comments are closed.

    Top Posts

    Open Interest In Ethereum Futures Has Hit a Record High

    February 13, 2022

    Number of SHIB holders surges more than 30% in a month

    November 12, 2021

    Estimating This Cycle’s Bitcoin Price Top

    November 12, 2021

    Subscribe to Updates

    Get the latest crypto news from bitwiza.com about altcoins, cryptocurrencies and blockchain.

    Sponsored
    UNITED NEKO ALLIANCE

    We are the leader in cryptocurrency news and a top knowledgebase for crypto assets, DeFi and blockchain.

    We're a community. Connect with us:

    Facebook Twitter Instagram Pinterest YouTube
    Top Insights

    Open Interest In Ethereum Futures Has Hit a Record High

    February 13, 2022

    Number of SHIB holders surges more than 30% in a month

    November 12, 2021

    Estimating This Cycle’s Bitcoin Price Top

    November 12, 2021
    Get Informed

    Subscribe to Updates

    Get the latest creative news from Bitwiza about altcoins, cryptocurrencies and blockchain.

    Facebook Twitter Instagram Pinterest
    • Altcoins
    • Blockchain
    • Bitcoin
    • DeFi
    • Ethereum
    • Crypto Mining
    • NFT
    • Security
    © 2023 Bitwiza. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.