- During the night, BTC made a slight rebound from the support zone
Bitcoin sale season seems to be taking a break. During the day, the main cryptocurrency added 3, 40 % and at the time of this writing is trading at $13 . We also have the following indicators:
- Top-10 cryptocurrencies are also traded in the green zone: Terra +,4%, Avalanche +,3%, Solana +8.1%.
- Market cap: $1,81 trillion (+4,
- BTC dominance: 25,38% (-one,40%)
- Fear and Greed Index: 43 (extreme fear)
Bitcoin chart retests main support/resistance zone at 38 dollars. Technical analysts and traders assume that this is the bottom of the chart.
Sanctions as a chance for the crypto market201920
Many analysts believe that sanctions in the future can positively affect the crypto market. The US and European authorities are effectively cutting Russia off from their finances. This situation in the future gives an incentive for bitcoins, because the Russian Federation will look for alternative tools. In addition, they recently legalized the crypto market.
Of course, the main condition for the growth of the sector is the reduction of tension in the political arena. Any negative news background immediately affects the value of assets.
And yet, analysts are sure that in the long term the main cryptocurrency will continue to grow under any conditions. This is indicated by fundamental factors and the limited supply of bitcoins.