After weeks of crashing, Bitcoin rebounded from its massive strength on Tuesday (7th Beijing Time) and recovered $ 50,000. The price dropped to around $ 42,000 when it dropped last week.
According to Coindesk, at 1:53 p.m. Beijing time, Bitcoin was trading at $ 51,043, up 4.3% in a 24-hour period. Other major stocks also gained 4.8% from their low at $ 4,359, Binance Coins rose 8% to $ 587.42 and Cardano (ADA) gained over 7% to $ 1.4546. .
Edison Pun, market analyst at SaxoMarkets, said risk aversion mostly reversed after Monday, when cryptocurrencies also rallied and often rebounded from their lows. The effects of Omicron seem weaker than the digested market.
The Bitcoin Currency and Currency Index was still very bullish on Tuesday 25th, but slightly warmer than yesterday 16th.
After last week’s massive recession, most crypto analysts are skeptical of the underlying cause, but are reporting a slowdown in financial jobs and new jobs in the near future.
Gaurav Dahake, founder and CEO of India’s Bitbns cryptocurrency exchange, said Bitcoin has rebounded in the short term, but the rise appears to be limited by the $ 55,000 to $ 60,000 region. The weekly energy indicator was negative for the first time since April and sentiment is still bearish this time around.
Some analysis suggests that if Bitcoin resumes resistance, the next rally will be close to the 100-day moving average, which is around $ 54,500. The 200-day moving average is currently around $ 46,300 and is the next boost.
Matt Maley, market analyst at MillerTabak Co., believes the cryptocurrency collapse after the Fed’s turn should be seen as a warning signal for other assets.