Bitcoin Outlook as Bulls Hold Bitcoin Above $19,500 | Arabic Bitcoin | Bitcoin news

Bitcoin Outlook As bulls hold Bitcoin above $19,500

Bitcoin forecast as bulls hold bitcoin
Bitcoin forecast as bulls hold bitcoin

Bitcoin Outlook On March 10, bitcoin briefly fell below $20,000 for the first time in nearly two months, hitting a low of $19,918.

However, the Fed’s hawkish stance has affected the cryptocurrency market, indicating that the upcoming rate hike will exceed the market consensus, causing uncertainty among traders and investors.

Moreover, the recent government crackdowns have contributed to the downturn in the cryptocurrency market, making it difficult for the sector to gain positive momentum.

Risk mood in the cryptocurrency market

The global cryptocurrency market has experienced a downturn, with many cryptocurrencies suffering significant losses.
Investor confidence was affected by concerns about upcoming interest rate hikes and regulatory uncertainty, which contributed to a global bear market.

It is worth noting that the recent comments made by Federal Reserve Chairman Jerome Powell have added to the uncertainty in the market.

Powell’s hawkish stance on potential interest rate hikes has raised concerns about the potential impact on the cryptocurrency sector.

Moreover, the recent regulatory actions against major players such as Paxos and Binance and the SEC’s crackdown on centralized takeovers have added to the negative sentiment in the cryptocurrency market.

This has created uncertainty around the regulatory environment for cryptocurrencies, which has historically been a divisive issue for the industry.

Bitcoin forecast

Bitcoin live price is $19,969, with a 24-hour trading volume of $36 billion.
Over the past 24 hours, Bitcoin has fallen by 8.16%. It ranks #1 on CoinMarketCap with a direct capital of $385 billion.

Bitcoin is trading below $21,000 and is facing resistance at $20,400, with significant resistance near $22,000.
A close above $22,600 could lead to bullish momentum towards $23,000.

Failure to pay $21,000 could lead to a drop to $19,800 or even $18,400.

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