Ținta Bitcoin de 29 USD arată suculen, deoarece 186 de bănci ar putea, de asemenea, să se prăbușească

1. Bitcoin has hit the $26,000 target and is looking to reach $29,000 in the coming weeks.
2. Price may retrace a bit especially since traders took profit at sub-$28,000.
3. People may flock to crypto now that 186 banks are displaying risks akin to SVB.

Bitcoin (BTC) continued its stride to overcome the $26,000 resistance level and is now looking to climb further up to $29,000 soon. In just a week, the crypto market leader has gained at least 36.5%, according to CoinGecko.

At the time of writing, BTC is changing hands at $27,529.12. It simmered down a bit after hitting almost $28,00 today, although this is more about traders taking little profits instead of a sellout.

As seen in the chart above, BTC was able to break past the $26,000 barrier after failing the first attempt a couple of days ago. This led to forming of a descending triangle, which was supposed to be a bearish signal.

However, Bitcoin’s fundamentals remain strong now that fear in banking and stocks is arising.

Specifically, Wall Street Journal (WSJ) raportate that economists are observing vulnerabilities in 186 banks akin to Silicon Valley Bank before its doom. The article did not name any banks, although it pointed out that this is related to the US Federal Reserve’s soaring interest rates.

In addition, stocks are not looking good either. For instance, the S&P 500 index witnessed a decline of 1.43% today and is on a yearly decline of 12.24%.

Hence, more people may look to leading cryptocurrencies like BTC and ether (ETH), as well as gold and silver, to hedge their asset value against volatility in the coming weeks. However, BTC may retrace a bit in the next 48 hours before it shoots up to $29,000.

Avertisment: Părerile și opiniile din acest articol aparțin exclusiv scriitorului și nu reflectă neapărat poziția CryptoNewsLand (CNL). Nicio informație din acest articol, explicită sau implicită, nu ar trebui luată drept sfat financiar. Amintiți-vă că investiția în criptomonede prezintă riscuri semnificative pentru bunul dumneavoastră. Prin urmare, CNL recomandă insistent tuturor cititorilor să efectueze propria lor cercetare aprofundată înainte de a investi în criptomonede.

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