The broader crypto market started in a bearish trend in August as major cryptocurrencies such as Bitcoin, Ethereum, XRP and Cardano flashed red. pulled back 0.94%
The world’s largest cryptocurrency by market capitalization, bitcoin price It has lost about 2% in the last 24 hours and is just above $23,000.
Bitcoin’s price on July 30, 2022 is $24,650, not seen since June 13, with the currency gaining almost 27% in July alone. The increase is considered one of the largest surges since October 2021. Meanwhile, even Ethereum surged by 70% in July.
Are Altcoins Successors to Bitcoin?
A crypto analyst known as Crypto Tony, when comparing bitcoin and altcoins: Altcoins perform much better Bitcoin, on the other hand, is shrouded in selling pressure. Analysts further say that although cryptocurrencies have entered a recovery phase, this could be a week of correction.
It’s not the price of Bitcoin, but even the currency’s trading volume, which has fallen 14% to $23.2 billion.
Analysts then claim they want a breakout from the current trend, also stating that the trend will remain short until Bitcoin breaks below $24,000.
Important facts about Bitcoin price
Another analyst and trader, tedtalksmacro, has some facts in his analysis on which bitcoins will trade this week. Analysts say the ISM and he are due to release their July US jobs report this week. The Fed’s future processes will depend on these data.
The ISM is nothing more than a US economy with jobs and stable prices. This will affect Fed monetary policy. According to expert predictions, if the ISM index is low, the price of Bitcoin will rise.
https://bitcoinwarrior.net/2022/08/bitcoin-price-to-pump-or-dump-here-is-the-key-factors-to-looks-this-week/ Bitcoin price to pump or dump? Here are the key ingredients for this week’s looks