Several days of continuous growth in bitcoin’s market value were briefly interrupted on Monday. Some investors picked up their profits, others saw a good opportunity to buy in the downturn. Bitcoin thus took a breath again to grow.
It’s been about a week since Bitcoin broke the psychological threshold of $20,000 for the first time in history. Since then, he has managed to climb above $24,000 for a short period of time, then by more than $2,000. Still, the oldest cryptocurrency traded above $22,000, and on Tuesday its re-growth stalled at just under $24,000.
Monday’s trading volumes suggest that some investors have made their gains and disposed in part of their Bitcoins. But as soon as the price fell, other investors saw it as an opportunity to make a profitable purchase and take up the position. So far, however, it seems that a stronger increase in the value of Bitcoin is unlikely to occur any time soon.
According to analysts, the development of the US dollar’s exchange rate to other world currencies will depend primarily on the next steps of the US central bank. But if the current loose monetary policy continues, bitcoin can be expected to tend to strengthen. However, a significant impulse to move in one direction or another at the moment is lacking.
