{"id":48004,"date":"2022-05-30T14:54:03","date_gmt":"2022-05-30T12:54:03","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=48004"},"modified":"2022-05-30T14:54:03","modified_gmt":"2022-05-30T12:54:03","slug":"is-bitcoin-showing-signs-of-recovery","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/is-bitcoin-showing-signs-of-recovery\/","title":{"rendered":"Is Bitcoin Showing Signs Of Recovery?"},"content":{"rendered":"

Bitcoin (BTC) ultimately followed the broader financial market cue breaching $30K<\/strong> after a long break involving smashing pitfalls. BTC has bounced back this week as a sudden surge challenges weekly highs. Experts suggest Bitcoin prices may be headed for a higher ground in the coming weeks.<\/strong><\/p>\n

Even as the world’s largest cryptocurrency registered a record ninth-weekly loss<\/strong>, Bitcoin showed signs of a bullish momentum<\/strong>. At the time of writing, Bitcoin prices, climbed 5.23 per cent<\/strong> in the last 24 hours to $30,591<\/strong>. In the first time in history, the asset has gone through more than six weeks in a row without a positive return.<\/p>\n

\"Is<\/p>\n

Bitcoin On The Verge Of a Bullish Signal<\/h2>\n

\"Is<\/p>\n

Bitcoin<\/a> (BTC) managed to break free this week after a market wide meltdown alongside inflation concerns in the broader economy, collapse of the Terra ecosystem and Fed interest rate hike. \u00a0Bitcoin’s resurgence come amid a surge in the Asian equity market<\/strong> along with reports that major Chinese cities have started to ease coronavirus restrictions<\/strong> after months of lockdowns.<\/p>\n

It seems Asian stocks\u2019 return to form after eight weeks of losses formed the major macro focus on the day. Jordan Lindsey<\/strong>, founder of JCL Capital, tweeted, “Bitcoin on the verge of a mega bullish signal.”<\/strong> Another crypto analyst, Trader Crypto Tony<\/strong>, noted that Bitcoin is still in a familiar trading range and should clear some key levels before being considered to have a firm trajectory.<\/p>\n

\n

Good morning legends <\/p>\n

Nice relief waves to see this morning on #Altcoins<\/a> .. Remember #Bitcoin<\/a> is still in a range, so we need to clear $31,000 for this relief to continue <\/p>\n

Updates to come \ud83d\ude0e<\/p>\n

— Crypto Tony (@CryptoTony__) May 30, 2022<\/a><\/p><\/blockquote>\n