Bitcoin Fails to Sustain the $25,000 Highs, Traders Take Profits
It is reported that Edward Moya, a senior market analyst at Oanda, a foreign exchange market maker, said that Bitcoin failed to continue to rise after testing …
It is reported that Edward Moya, a senior market analyst at Oanda, a foreign exchange market maker, said that Bitcoin failed to continue to rise after testing the level of $25000, and many active traders took profits. In the short term, investors’ interest in risky assets may decline. For a period of time, the new regulatory measures of the United States on the encryption market will not affect its ability to continue to grow. The encryption market still has the opportunity to adjust itself. However, many funds may leave the stable currency and turn to other types of encryption investment.
Oanda analyst: U.S. regulation will not affect the continuous growth of the encryption market in the short term
Interpretation of the news:
The cryptocurrency market, particularly Bitcoin, has been constantly under the radar of investors all across the globe. However, the latest news that has surfaced suggests that the cryptocurrency might not be able to sustain its high value of $25,000 for long. Senior market analyst Edward Moya from Oanda has commented on the recent trends of the cryptocurrency, and his analysis suggests that Bitcoin may face some turbulence in the near future.
Moya believes that the reason behind Bitcoin’s inability to maintain its $25,000 highs could primarily be attributed to active traders taking their profits. The upswing of Bitcoin in the market lately has seen an unprecedented inflow of investors, but the recent price correction has forced many active traders to take their profits off the table. As a result, the interest in the risky cryptocurrency market may witness a decline soon.
However, Moya suggests that regulation measures introduced by the United States on the cryptocurrency market might not have an immediate effect on Bitcoin’s growth. Although it’s a temporary reprieve, the window of opportunity for the cryptocurrency to adjust itself is still apparent. Nonetheless, Moya believes that many funds may soon leave the stablecoins and search for other lucrative investment options within the cryptocurrency market.
The market analyst’s interpretation of Bitcoin’s present conditions might seem complicated, but the repercussions of his analysis could lead to a significant shift in the cryptocurrency investment trend. His analysis suggests that the cryptocurrency market’s future is uncertain, but it doesn’t mean that investors should shy away from it.
In conclusion, the cryptocurrency market is in a state of flux, and it’s evident in the way Bitcoin’s value fluctuates. Moya’s analysis highlights the market’s unpredictable nature and urges investors to tread carefully. Although the short-term outlook may suggest a decline in the interest of risky assets, the long-term trajectory may bring better outcomes if investors choose wisely.
Keywords like Market Analysis, Cryptocurrency, Investment trends, and Regulatory Measures give us an overview of what the message entails. The message suggests that the current state of the cryptocurrency market and Bitcoin, in particular, could be attributed to active traders taking their profits, and interest in the risky assets of the Cryptocurrency market may decline in the short term. However, the United States’ regulatory measures on the cryptocurrency market may not affect Bitcoin’s ability to grow immediately. Nonetheless, funds may leave the stablecoins and search for other investment options. Thus, the need for investors to take caution while navigating the cryptocurrency market.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/1413/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
FTx 2.0: Moving Forward with Confidence
On April 5th, FTX creditors posted on social media stating that according to the latest released FTX expense report, the ambiguous \”FTX 2.0\” restart in previous documents has more
-
Credit Suisse Plans to Borrow from Swiss Central Bank
Credit Suisse reportedly said it plans to borrow up to 50 billion Swiss francs from the Swiss Central Bank through a secured loan project. Credit Suisse also announced that Credit Suisse International plans to repurchase certain OpCo senior debt securities with no more than 3 billion Swiss francs in cash. Credit Suisse stated in a statement that this additional liquidity will support its core businesses and customers. Credit Suisse will take the necessary steps to create a simpler bank that is more focused on customer needs. Credit Suisse has also made a cash acquisition offer for 10 US dollar denominated senior debt securities at a total price of no more than US $2.5 billion; Another cash offer was announced involving four euro denominated senior debt securities at a total cost of no more than 500 million euros. Both offers are subject to a number of conditions contained in the offer memorandum and expire on March 22. Credit Suisse will borrow…
-
What is TTNcoin
TTNcoin is a cryptocurrency issued by the Thai Tamirna International Foundation
-
Foreign media: As part of the layoff plan, Disney will cancel its metauniverse department
According to reports, a person familiar with the matter said that Disney has canceled its \”Next Generation Storytelling and Consumer Experience\” department, which is developing a m
-
What is Currency (What is an Integer)
What is currency, what is currency, what is currency? The issuance of cryptocur
-
#Severe Punishment for “Two Cards”-Related Crimes in Hefei
It is reported that according to the official account of Hefei police, the Hefei Intermediate People\’s Court, the Hefei People\’s Procuratorate and the Hefei Public Security Bureau
-
The number of primary network addresses of zkSync Era has exceeded 160000, and the number of cross chain ETHs has exceeded 34000
According to reports, according to Dune data, as of March 30, the number of single addresses on the zkSync Era chain had reached 160351, and 34188 ETHs had entered the zkSync Era n
-
DoodleMAP Charts Out the Universe of NFT Project Doodles
On March 5, the NFT project Doodles released DoodleMAP. Doodles said that the map reflects the universe it is building and the way it connects. As shown in the…
-
Bored Ape Yacht Club (#5647): A Crypto Collectible Investment
According to reports, data shows that Bored Ape Yacht Club # 5647 was closed at a price of 147ETH. BAYC # 5647 closed at 147ETH Analysis based on this information:The digital assets market has been evolving rapidly, and one of the latest entrants is the crypto collectibles. Crypto collectibles are unique digital assets that can be bought, sold, or traded, just like traditional collectibles. The Bored Ape Yacht Club (#5647) is one such crypto collectible that has gained immense popularity in recent months. According to reports, the Bored Ape Yacht Club (#5647) was closed at a price of 147ETH, which is equivalent to approximately $400,000, based on the current conversion rate. This transaction is a testament to the growing popularity of crypto collectibles and the huge demand from investors looking for alternative investment opportunities. The Bored Ape Yacht Club (#5647) is a part of a larger series of 10,000 unique digital apes, each with its distinct look and personality traits….
-
Edward Snowden: Artificial intelligence models may soon surpass human capabilities
On April 30th, Edward Snowden, Chairman of the Press Freedom Foundation, stated at the 2023 Consensus that artificial intelligence (AI) models may soon surpass human capabilities,
-
What does the term “mining machine hashrate” mean (mining hashrate machine)?
What does the term \”mining machine hashrate\” mean? According to official source
-
The Growth and Potential of Web3 in Hong Kong
On April 12th, at the \”2023 Hong Kong Web3 Carnival\”, Xiao Feng, Chairman of Wanxiang Blockchain and Chairman of HashKey Group, stated in a welcoming speech that the Hong Kong gove
-
Balancer Launches Boosted Pools Based on Aave V3 – A New Innovative Way To Mine and Invest
According to reports, Balancer has just released a new Boosted Pools based on the Aave V3 market. Aave V3 is the most important upgrade to the Aave protocol, ensuring billions of d
-
South Korea’s Financial Regulators Intensify Scrutiny on Crypto Exchanges’ Pledge Services
On February 24, the South Korean financial authorities recently asked the country\’s encryption exchange based on the Korean won to prove the driving principle …
-
What books to read in blockchain (recommended for good blockchain books)
What book does blockchain read? What is blockchain In 2018, with the vigorous development of the global digital economy and the development of financial technology, more and more traditional enterprises began to enter this industry. But some startups have also turned to this technology, and these companies are now seeking to use this new technology to solve many of the current problems, such as regulation, data protection, compliance, and so on. The most noteworthy aspect is “blockchain” – in the world of blockchain, it allows people to better understand what is happening in the world. “What is blockchain?” is a concept after the emergence of bitcoin. “Why Cryptocurrency is needed”, “How to understand bitcoin and its value”, “How to use blockchain to change the future”, “How to use blockchain and other technologies”, and “How to establish trust mechanisms and security assurance systems” are among the attitudes of most countries towards Cryptocurrency. Therefore, which books should blockchain read, including Blockchain Principles,…
-
Federal Reserve Bank of New York (NY Fed) restricts Counterparty Standard: Implications for Circle Stablecoin
On April 26, it was reported that on Wednesday, the Federal Reserve Bank of New York (NY Fed) restricted the counterparty standard of its reverse repurchase program (RRP), which ma