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Bitcoin Revisits the $30.5K Resistance Zone as It Rises above $30.2K – April 12, 2023
Bitcoin (BTC) was losing value after reaching a high of $30,575 but rises above $30.2K. The cryptocurrency asset retraced to a low of $29,689 before recovery. Bitcoin risk decreased as it traded in the overbought region of the market. It will seem as though sellers are bringing prices down in the overbought area.
Bitcoin Price Statistics Data:
•Bitcoin price now – $30,137.16
•Bitcoin market cap – $582,871,344,815
•Bitcoin circulating supply – 19,344,731 BTC
•Bitcoin total supply – $633,019,433,668
•Bitcoin Coinmarketcap ranking – # 1
Resistance Levels: $50,000, $55, 000, $60,000
Support Levels: $25,000, $20,000, $15,000
Bitcoin’s (BTC) price is now retracing after crossing the psychologically significant $30,000 mark. The cryptocurrency is retracing because the market’s overbought area has been reached. Price will resume its uptrend if it returns above the 21-day SMA. During the first retracement, the BTC price started fluctuating again above $29,689 support. If the bears break below the current support, Bitcoin will retrace below the 21-day SMA. The bullish trend will resume if Bitcoin finds support above the moving average lines. The psychological price barrier of $30,000 will be surpassed by the cryptocurrency’s price. According to the price indicator, the bullish momentum will carry on above the $31,000 high. The Relative Strength Index for period 14 shows that Bitcoin is still in the bullish trend zone at level 67. The crypto asset can go further.
Bitcoin Is Only a Gambling Token and Has No Intrinsic Value – Mr. Warren Buffet
The elderly man compared Bitcoin to roulette, sports betting, and chain letters and claimed that there has been an “explosion of gambling.” On April 12, Warren Buffett conducted yet another anti-cryptocurrency interview with CNBC’s Squawk Box, playing his well-known role as the FUD train’s conductor. The magnate described the cryptocurrency market to CNBC as “an explosion of gambling.” I like to place a wager on a football game when I’m sitting and watching because it makes it more interesting, he continued. However, I don’t believe I want to try to gamble against the house for a living. In a different 2014 CNBC interview, Buffett predicted Bitcoin’s future, saying he “would not be surprised if Bitcoin is not around in 10 or 20 years.” He also asserted that Bitcoin couldn’t be regarded as a form of money at the time because it is “inevitably based on the value of the dollar.”
The BTC price is currently on track as it rises above $30.2K. The cryptocurrency is currently testing again the psychological price level of $30,000. On April 11’s uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that BTC will rise but reverse course at the level of the 1.272 Fibonacci extension, or $31,342.
Alternatives to Bitcoin
Bitcoin reverts to its psychological $30k price level. The price of BTC will precisely test or breach the $30,550 resistance level. The crypto’s value will rise to $31,000. As a result, the value of other cryptocurrencies, including Love Hate Inu (LHINU) tokens, will rise. LHINU’s outstanding performance will lead to a further rise in its value. To secure your tokens before the price increases, don’t forget to purchase some LHINU during Stage 4 of the Presale. Act now because time is running out. There are less than two days left in Stage 4 so make sure you participate in the Presale now. Additionally, Stage 5 will bring something HUGE, so keep an eye out and buy some LHINU. Purchase for just 0.05 BNB. More than $4 million has already been collected.
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