- On Tuesday morning, the rate recovered to 20 700 dollars, this is an increase in %
- But you need to carefully follow the news – a series of important events is coming
On Monday, the main cryptocurrency fell to dollars
Bitcoin reacted positively to the US stock market recovery on Tuesday. However, although the daily growth in 10% looks encouraging, we must not forget that before that we experienced a serious drop in the BTC rate. A quick look at the charts shows that yesterday’s bounce does not change the main trend. It remains negative.
Schedule for 7 days
Analysts emphasize that bitcoin will strengthen its position only after returning an important psychological mark in 000 .
What news will decide the fate of bitcoin
The first thing to keep an eye on is the dynamics of stock prices in Europe. The day before, European indices fell sharply – САС 25 by 3,10% and Dax by 3.8%. At the same time, US stock markets reduced their losses overnight. Therefore, now it is worth waiting for European stocks to go up.
Since bitcoin has been increasingly correlated with stocks lately, with a positive opening, the European market will support cryptocurrency.
The next important event will be tomorrow’s Fed meeting, where they will announce interest rates. It starts at 8 pm local time.
The meeting will be followed by a press conference by Jerome Powell, where important statements may also be made. Any tough Fed proposals will hurt Bitcoin. But if the US authorities soften the policy, this will positively affect the entire cryptocurrency market.
Stay tuned and stay up to date with the latest events.