Worried about a fresh dump? Here's what analysts and the market are saying about Bitcoin this week.
Ironically, it was that very level which was in focus on the same day in 2021, that nonetheless coming during what turned out to be the more vertical phase of Bitcoin’s recent bull run.
The macro picture this week is particularly complicated for risk asset fans, with Bitcoin and altcoins no exception.The United States Federal Reserve is broadly seen to start raising interest rates in the coming months, this making investors de-risk and causing a headache for crypto bulls. “Easy money,” which began flowing in March 2020, will now be much harder to come by.
“Let’s forget what non-crypto investors believe; my read on the sentiment of crypto investors is that they naively believe network and user growth fundamentals of the entire complex will allow crypto assets to continue their upward trajectory unabated,” he wrote. Hayes is far from alone in worrying over what the Fed may bring to crypto this year, with Pentoshi among others likewise calling a temporary end to the bull run.