#Bitcoin paused its downside action, the price climbed back above $30,000. So what are the reasons for this? What positive developments have happened for Bitcoin (BTC)?
Bitcoin (BTC) finally completed the upward test that started at night at around 7:00 am. The critical level of $30,000 has been exceeded again. As you know, the price below $30,000 had the risk of falling to the level of 24,000. So what is the current Bitcoin price outlook?
Bitcoin (BTC) Rising👇👇👇
Bitcoin, which suffered great selling pressure on the holiday night, offered a good buying opportunity. Especially strong altcoins like Ethereum have come down to very attractive prices. With the start of the comeback, investors recovered a significant portion of their losses. In particular, users who stopped 30,000 levels had the opportunity to buy altcoins at very cheap numbers.
Bitcoin price must stay above $30,500 and gradually maintain the 31,500, 32,800 levels to continue its upward move. Of course, it cannot be said that the decline is completely over yet. However, there is very good news for the rise.
Currently, the Bitcoin price is above $30,870.
📢Why Bitcoin (BTC) Is Rising, Positive Developments
First of all, this evening at 19:00, the Elon Musk session of The Bitcoin Word event will start. Here, Bitcoin price will rise if Musk does not do nonsense like in the SNL show. This is the first time we can see Elon Musk seriously talking about Bitcoin. It is possible to hear the news that Tesla will start accepting Bitcoin again.
The event, which will start tonight, is aimed directly at institutional investors. There will be very important guests in the program, whose details we have shared before. Corporate interest, which has fallen seriously in the last few months, may start again under the leadership of Elon Musk.
As of Monday this week, #Grayscale unlocked 40,000 BTC worth of #GBTC shares. For three days, GBTC shares have been bought like crazy. #ARK Invest added about 100,000 GBTC to the shares it bought on Monday. #Rothschild Investment Corporation increased its GBTC investments to $4.2 million. Although the number is small, the investing company is extremely important. The richest families in the world are now paying more attention to crypto.
On the other hand, monsoon sessions have started in India. But the crypto law has yet to come to parliament. Bitcoin pricing this news will no longer be seriously affected, even if the bans come. So as of today, we can see green charts for Bitcoin and altcoins.