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The crypto community is waiting for the price of Bitcoin, considering $ 28 thousand an important level!

The crypto community is waiting for the price of Bitcoin, considering $ 28 thousand an important level!

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Answer The crypto community is waiting for the price of Bitcoin, considering $ 28 thousand an important level!

Bitcoin, the world’s largest cryptocurrency, is struggling to get back above the $25,000 level.

The past 30 days proved to be good for Bitcoin as its price managed to recover more than 20%.

However, experts point out that this bullish trend may continue in the coming days.

Bitcoin and the level of 28 thousand dollars:

Bitcoin has been hovering around the $24,000 price level for the past two weeks.

After testing this price zone, Bitcoin price jumped to a new high of $24,666.

But since then the price of Bitcoin has fallen to the level of 23 thousand dollars.

Read:Elon Musk reveals how much bitcoin he owns

Bitcoin prices have jumped about 3% in the past 24 hours.

At the time of writing, Bitcoin is trading at an average price of $23,350.

The 24-hour trading volume jumped more than 4.75% to $28.6 billion.

Some analysts are suggesting that $20,700 is now a vital price level to watch.

If Bitcoin somehow drops below this key price level, it will signal a bearish signal.

Meanwhile, Bitcoin is now holding an interesting $23,000 price level as resistance.

This could turn into a massive support during this week.

If Bitcoin can hold the current price level, it will push it towards the $24,000 level again.

This move could break out towards the $27,000 to $28,000 level.

July is the best month for bitcoin so far in 2022:

According to a report by Arcane, Bitcoin was relieved of heavy selling pressure last month.

Bitcoin price recorded a monthly return of around 16.6% in July.

This is the highest return since October 2021.

Read:After the BNB cryptocurrency burning… Find out about the profits of the Binance platform in the last quarter

Other than July, February and March are the two months that have recorded positive growth for Bitcoin of 12% and 5% respectively since October 2021.

Meanwhile, June proved to be the worst month in Bitcoin history.

The report notes that this sudden shift in bitcoin’s momentum is a direct result of the stock market’s slight recovery.

The coming days will be busy days for bitcoin and cryptocurrencies in general.

Read also:

Once again…Solana suffers outage with thousands of digital wallets being drained and stolen

Bitcoin’s recent rally was a bull trap, according to data analytics platform Glassnode.


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