Main meals:-
- Bitcoin continued its upward trend by trading near the $ 104,000 brand on Sunday evening.
- Experts said Bitcoin can achieve a new peak absolutely soon, based on continuous macroeconomic trends.
The largest cryptocurrency in the world showed a slight change during the past 24 hours, as it decreased by 0.12 % at 103,926, according to the Bitcoin price page in the block. At the beginning of the day, Bitcoin witnessed a temporary rise above the level of $ 105,000.
Bitcoin is currently trading of about 4.5 % less than its peak in January, which amounted to $ 108,786.
“Bitcoin is still near its highest levels ever, driven by upward technical signals that exceed the average of more than 50 and 200 days of average,” said Cio Vincent Liu Research Kronos. More big investors participate, and positive expectations for 2025 indicate that Bitcoin may reach the highest new level ever. “
On the other hand, the Bitcoin (RSI) relative index explains that the coded currency is at very high levels, as experts pointed out.
This does not mean an immediate change, but it makes Bitcoin slow down or moves sideways for a period of time, “BTC Markets expert said,” The test and survival level of $ 100,000 important will be a good sign and can pave the way for further growth.
Mostly, Bitcoin’s continuous rise was fed with news from outside the market, especially positive updates on the United States of China’s talks, according to analysts. Fears about a long trade war due to the high American definitions were a major reason for the last large increase in bitcoin.
Reuters said that the commercial talks between the important economists successfully crowned in Switzerland on Sunday, where Chinese officials said that both sides had reached an “important consensus.”
On Monday, US Treasury Secretary Scott Beesen and Commercial Representative Jameson Jarir are ready to announce the details of the “great progress” that were held during talks with China, according to the report.
“We are watching a typical transformation as it reaches the bitcoin domination levels that were last seen before the 2021 boom, and the money began to move to Altcoins,” said Bresto Min Yong. “
Presto expert added that Bitcoin’s chances of breaking its previously high record, based on how commercial conversations evolved, with other increasing geopolitical problems that are still a major variable.
Besides the total economy, fixed investments in the investment funds traded in bitcoin and major companies such as buying more bitcoin are the key to maintaining the high price.
“Given that the total events such as the upcoming US consumer price index on May 13, investors need to stay on alert, be smart with their risks, and the use of various strategies to deal with this unexpected market.”
Also read:- Bitcoin rises as Trump hints in a major deal with China
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