Finally green for Bitcoin, but what does it say?
After a period of dips, Bitcoin is finally trading in the green for a day. This says it.
Hope is hard to find in a market of significant decliners. Both in the field of crypto and the stock market. There is absolutely no question of recovery. However, Bitcoin is making an effort by starting in the green this week.
The most famous cryptocurrency in the world managed to rise more than 5 percent in 24 hours. Bitcoin is in the green at a level of five days ago. So nothing spectacular. Above all, the currency has to climb out of a deep valley and that conviction is still hard to find. The resistance is so high that a tilt seems far away. The first baby steps have been taken.
At the time of writing, Bitcoin is valued at $30,692 on Coindesk. For the past few days, BTC has not even managed to get close to 30k. There was even briefly talk of a drop to the 28k area.
The tone is set for this week. Only when significant increases take place can you speak convincingly of a new trend. It looks good, but with too little trust, the cryptocurrency just goes the other way. And we are actually seeing the latter throughout 2022. In short, quiet developments on a quiet Monday.
