Bitcoin and Ethereum have gained over 6% in value ahead of the announcement of Manufacturing and Services PMI numbers. Both cryptocurrencies have seen price growth as investors wait for the outcomes of key economic indices.
The largest cryptocurrency in the world, Bitcoin, has managed to halt its downtrend and attracted some new bids above $28,000, recording a gain of 2.63% over the last day. Ethereum has also recovered the $1,800 level.
Dogecoin, Ripple, Solana, and Litecoin are some other well-known altcoins that have seen large rises today.
Although the Federal Reserve increased interest rates yesterday, which tends to make investing in Bitcoin less alluring, the BTC lost some of its gains from the previous day.
This is due to the possibility that rising interest rates may make the dollar seem more desirable to consumers, leading them to dump Bitcoin and other cryptocurrencies in favor of the US currency.
It’s interesting to note that the declines in BTC prices were momentary and transient because rising interest in digital asset futures and options led to a rise in the value of cryptocurrencies.
TODAY’S BITCOIN PRICE
| Today | 01 | $ 27,705.64 |
BITCOIN PRICE PREDICTION
Bitcoin is currently worth $28,327, with a 24-hour trading volume of $23.4 billion. In the last 24 hours, Bitcoin has risen by 2.5%. As of Friday, the BTC/USD pair has surpassed the $27,750 resistance level and is stabilising near the $28,000 mark. Bitcoin’s value might rise to anywhere between $29,250 and $30,700 if this rising trend continues.
The next level of support for Bitcoin is at $23,150 if it drops below the support levels of $26,700 or $25,200.
[embedpost slug=”eth-price-prediction-todays-ethereum-price-26th-march-2023/”]
