Altcoin News by Thebittimes.Com

Bitcoin price is gearing up for a key monthly close that could see it dump its 2022 bear market for good. Bitcoin (BTC) enters the last week of March in uncertain territory as a strong weekly close still keeps $30,000 out of reach. The largest cryptocurrency has sealed seven days of practically flat performance despite some volatility in between as the market seeks fresh direction. Where could it go next? In what was a week of more surprises from the macro economy, BTC/USD spent much time reacting to decisions from the United States Federal Reserve and associated commentary. Next up, however, is a period of relative calm, followed by a key monthly close, which analysis says could see the start of a new bullish trend. Bitcoin is currently up 20% for March so far, meaning that the coming days will decide the strength of the ongoing recovery from multi-year lows. Cointelegraph takes a look at five key topics to bear in mind during the final week of a what has been a volatile month. Count...

From January 1st’s high of $47.9k, Bitcoin dropped to a low of $42.3k by January 13 in 2022. This year’s tale, however, is different. Over the past 13 days, Bitcoin has registered 10 green candles on its chart. From its January 1st low of $16.49, the asset’s price went on to register a multi-week high of $19.1k yesterday. At press time, BTC was priced at $18.8k, resulting in a ~14% rally so far in 2023. Source: TradingView Also Read – Bitcoin: ‘Tension’ To Likely Build Up By End Of January, Why? The Game Of Chicken The last green candle was a result of the post-inflation data release hype pump. For context, the US Bureau of Labor Statistics revealed yesterday that US’s inflation rate fell to 6.5% in December, down from November’s 7.1%. The number was at par with expectations, and as a result, Bitcoin could climb from $17.89k to $19.1k. After the Fed ’s meeting last month, San Francisco Fed President Mary Daly was ...