Post
Topic
Board Speculation
Re: Bitcoin will pump soon? Lower interest rates in june.
by
kamvreto
on 07/04/2023, 23:02:49 UTC
The real factor which will push Bitcoin to the 35,000$ or 40,000$ isn't FED decreasing interest rates, but the halving that is going to happen next year. However, FED decreasing interest rates can work as an important booster on this process, increasing the potential impact of next year's halving. That is what I meant.

For now we still have Bitcoin showing resistance level above the 28,000$ line. Normally it should be at 29,000$, because the real mark is 30,000$, so I guess the resistance level is pretty strong and bearish for now... Anyway, if Bitcoin maintains its price where it is right now it's a already good news in my opinion.

The $29000 resistance level is currently the closest level that is still strong, if it can break this resistance I believe bitcoin will stay above the $30000 price. But currently Bitcoin is still stable at a price of $ 27000-28000. the market is still in a bearish state and if at the close of the Daily Bitcoin still holds on the support of $ 27000 it is still safe, but if it closes below the resistance of $ 27000 then it is likely to decline again with the lowest support at the price of $ 19000. Let's wait and see what will happen, hopefully the positive trend will still be on Bitcoin's side and no FUD will appear when the market is like it is today.
BTW The FED's news about the interest rate cut will affect the bitcoin market, this includes the Fundamental events that will occur.