Are Bitcoin and Ethereum Ready to Tend Higher?
  • 2 years ago
Bitcoin and Ethereum have perplexed investors, experts, and analysts for many months at this point. As the Fed signaled that it was prepared to raise interest rates on Wednesday, both apex tokens began to tumble. Analysts began to weigh in on the issue, with many believing that Bitcoin needs to reach $46,000 at close on a regular basis before it can become bullish. Some analysts believe that Bitcoin only needs to reach $42,000 regularly in order to go bullish again. Experts also note that the dollar index could creep lower, and that should allow Bitcoin to rise as a hedge against losses in traditional currencies. Ethereum is attempting a similar breakout, but analysts believe that it cannot trend higher unless it can close above $3120. Again, a sinking dollar index would help Ethereum reach this goal. Some analysts believe that the token should rise to $3400 or even $3700 before it can go bullish again. At press time, Bitcoin was trading at just under $43,000, down almost 3% on increasing volume and a falling market cap.
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