follow us on twitter . like us on facebook . follow us on instagram . subscribe to our youtube channel . announcements on telegram channel . ask urgent question ONLY . Subscribe to our reddit . Altcoins Talks Shop Shop


This is an Ad. Advertised sites are not endorsement by our Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise Here Ads bidding Bidding Open

Author Topic: "Bitcoin's Price Surges Above $28K, Reaching 9-Month High - Here's Why"  (Read 605 times)

Offline Coinpedia Fintech News

  • Full Member
  • *
  • Activity: 205
  • points:
    16896
  • Karma: 3
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: June 11, 2023, 05:57:18 PM
    • View Profile

  • Total Badges: 8
    Badges: (View All)
    Signature 100 Posts 50 Posts
After a few weeks of bearish trends, Bitcoin is back in the green! The price of the world's most popular cryptocurrency hit a nine-month high of around $28,440 last week. And it's not just Bitcoin that's seeing a surge in prices. Ethereum and Binance Coin have also increased by over 11% and 15%, respectively, in the past week.

So, what's driving this bullish sentiment in the crypto market? Well, it turns out that the global banking sector is currently experiencing a meltdown, leading to rising inflation. This has caused investors to turn to Bitcoin as a potential hedge against inflation.

The recent news of Credit Suisse being saved through government intervention has further boosted investors' confidence in Bitcoin's capabilities to fight inflation. Chairman of the Board of Directors of Credit Suisse, Axel P. Lehmann, stated that the UBS merger was the best outcome for all stakeholders at the moment. On the other hand, UBS Chairman Colm Kelleher said that the acquisition would help advance the company's agenda and save the financial markets from further catastrophic losses.

As long as the $25k macro downtrend breakout holds in the monthly close, popular crypto analyst Rekt Capital believes that Bitcoin's bullish sentiment will hold. If this happens, we can expect a spike in cash flow to altcoins in the coming weeks.

What's particularly interesting is that the rising Bitcoin trajectory has rejuvenated hopes of reaching $30k before hitting $10k again in the near term. This is great news for those who are holding Bitcoin and hoping for a profitable return on their investment.

But what about those who are looking for new investment opportunities? Well, there are many altcoins that are worth keeping an eye on. According to Bitboy Crypto, Singularity DAO and Fetch.ai are two top AI coins to watch. Singularity DAO is particularly interesting as it aims to empower developers and researchers to build AI applications that are transparent, decentralized, and accessible to everyone.

Overall, the potential of AI in crypto is not limited to these projects alone. Many other projects are also working on integrating AI into their networks, such as Ocean Protocol, Numeraire, and Iexec RLC. It's exciting to see the increasing role of AI in the cryptocurrency space and the potential it holds for the future.

In conclusion, the recent surge in Bitcoin's price is a positive sign for the crypto market. As long as the $25k macro downtrend breakout holds, we can expect more bullish sentiment in the coming weeks. And with the rise of AI coins, there are plenty of investment opportunities to explore beyond Bitcoin.

At the time of writing, BTC is trading at an all-time high of $28K. While this rally has experienced a few downtrends, the question on everyone's mind is whether it will continue to run for a long time.

What do you think?




Trusted Crypto Agency for News, Information, Exchange, PR, Blockchain Events, Crypto Wallet and Else related to Decentralized World.

Altcoins Talks - Cryptocurrency Forum


For Monthly biddings Check Here


 

ETH & ERC20 Tokens Donations: 0x2143F7146F0AadC0F9d85ea98F23273Da0e002Ab
BNB & BEP20 Tokens Donations: 0xcbDAB774B5659cB905d4db5487F9e2057b96147F
BTC Donations: bc1qjf99wr3dz9jn9fr43q28x0r50zeyxewcq8swng
BTC Tips for Moderators: 1Pz1S3d4Aiq7QE4m3MmuoUPEvKaAYbZRoG
Powered by SMFPacks Social Login Mod