@BOMBERuss 29 April 2021 more from that month

"The correction is coming to an end." What will happen to Bitcoin next The cost of the first cryptocurrency again exceeded $55 thousand. What is the next important mark that the asset needs to overcome for further growth, and why the price of the coin may decline again The opinions of experts may not coincide with the position of the editorial board. "RBC-Crypto" does not give investment advice, the material is published solely for informational purposes. Cryptocurrency is a volatile asset that can lead to financial losses. On Tuesday, April 27, the bitcoin exchange rate on the Binance crypto exchange again reached $55.3 thousand. The price of the cryptocurrency is recovering after it updated the local minimum at $ 46.9 thousand on Sunday night. Over the past two days, the asset's quotes have risen by more than 17%. Experts told what the growth of the cryptocurrency price is related to, in which case it will continue and what is necessary to complete the correction. "A drop below $50 thousand is possible" Vitaly Kirpichev, Director of the TradingView platform Development in Russia The growth of bitcoin can be attributed to the release of positive reports from Tesla and the statement of the company's CFO that positions in bitcoin will have a long-term character. This allowed the Bulls to temporarily seize the tactical initiative from the Bears. However, in order to maintain and develop this advantage, it is necessary to increase the scale of adoption of bitcoin as a means of payment by a large corporation or a developed country. Otherwise, it is possible to continue the sideways trend or fall below $50 thousand. "Investors continue to increase their positions in bitcoin» Financial analyst of the crypto exchange Currency.com Mikhail Karkhalev Most likely, the correction is coming to an end, since the decline to $47 thousand gave an excellent opportunity to buy bitcoin quite cheap, even by current standards. The old strategy of "Buy the dip" works perfectly in the field of cryptocurrencies. The crypto market is not going to go "winter" yet, as institutional investors continue to increase their positions in bitcoin, and some are just entering the market. Sales of 10% BTC from Tesla are unlikely to scare them. As for the technical analysis, the level of $47-48 thousand has already demonstrated the strength of buyers twice, and the intermediate resistance is around $54 thousand. it was already broken. Now bitcoin needs to overcome the level of $60 thousand, from which the impulsive fall began. Only in this case, it will be possible to talk about the actual completion of the correction. Within a few days after the $60k breakout, bitcoin will climb above $65k. "The correction triggered a big purchase" Maria Stankevich, Director of Development at EXMO Exchange As we predicted earlier, bitcoin stabilized over the weekend, and the correction served only as another push for large purchases. In addition, the announcement of JPMorgan bank on the creation of a fund for cryptocurrency assets is unequivocally positive news, which reflects the high demand from institutional players at the current, record prices at the moment, which will further lead to an increase in the value of the asset. Another important factor in the current growth is the dynamics of bitcoin, which at the moment almost perfectly matches the dynamics of an asset with a scarce value. The only factor that can put pressure on the "bull run" of cryptocurrencies at the moment is the results of the end of the Fed meeting on the rate. In general, we believe that this will not affect the cryptocurrency market, as the Fed is likely to confirm its position on the current monetary policy at this meeting. But if Powell at the press conference clearly announces plans to curtail the policy of cheap liquidity and names specific terms (that is, he will not say it vaguely, but specifically), then this may cause the strengthening of the US dollar and will put some pressure on the cryptocurrency market at the moment. #CryptoTrading